Borders Could File for Bankruptcy Mon. or Tues

RetailReuters

Bookseller Borders Group Inc could file for bankruptcy as soon as Monday or Tuesday, the Wall Street Journal reported on Friday, citing people familiar with the matter.

The company is in the final stages of preparing a bankruptcy filing after failing to persuade publishers and other to go along with a plan to restructure its debt, the paper reported.

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"There have been constant inquiries by reporters and stories written regarding whether Borders is considering a Chapter 11 filing. Borders is not prepared at this time to report on the course of action that it will pursue," said Mary Davis, a spokeswoman for Borders.

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