Book retailer Borders Group Inc., which is shuttering hundreds of stores in a bid to stay alive, is seeking bankruptcy court approval to hand out more than $8 million in executive bonuses, including nearly $1.7 million to President Mike Edwards. Get the full story »
Inside these posts: Bookstore bankruptcy
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Liquidation sales begin at 26 new Borders stores
A Borders bookstore at North and Halsted in Chicago in February. (Brian Cassella/Chicago Tribune)
Liquidation sales have begun at 26 Borders stores in 14 states that are slated to close in late May, including an outlet in Wilmette.
Similar sales are already under way at the 200 Borders stores that are scheduled to close by the end of April, as the troubled bookstore chain reorganizes under Chapter 11 protection. Get the full story »
Borders outlines 28 additional store closings
A Borders bookstore at North and Halsted in Chicago in February. (Brian Cassella/Chicago Tribune)
Borders Group Inc. plans to close an additional 28 stores, bringing the total closings to 228, as it tries to reorganize in bankruptcy protection.
The updated list includes a store in Wilmette. Get the full story »
Borders files for Chapter 11 bankruptcy
A Borders at the corner of Pearson and Michigan Ave. in Chicago, which closed in January of 2011. (Heather Charles/Tribune)
Borders Group Inc. filed for bankruptcy protection and said it planned to close nearly one-third of its bookstores, after years of shriveling sales that made it impossible to manage its crushing debt load.
The long-expected Chapter 11 filing will give the second-largest U.S. bookstore chain a chance to fix its finances and shrink its business at a time when buyers are increasingly going online rather than visiting megastores. The bankruptcy could help larger rival Barnes & Noble Inc, which also is struggling, by reducing the number of competing stores. Get the full story »
