Credit insurer Euler Hermes told publishers on October 17 that it was reducing its cover for vendors of Borders in the US to zero. The Bookseller, which has seen the document, reports that it “said the move is related to Borders Group’s continuing losses.” Recently, we’ve heard of major US publishers looking anew at whether to take out their own credit insurance policies to cover their inventory at Borders in the event of a bankruptcy. The policies can be very expensive, and in informal polling we’ve heard of one big six publisher that did take out a policy and one […]
