News service DebtWire.com reports via the FT that a group of small publishers has hired the bankruptcy group of Lowenstein Sandler as legal counsel “concerning mounting receivables” owed them by Borders Group. But a spokesperson says Borders “has continued to pay its vendors and is not aware of any material disputes related to its December 2009 payments.” One anonymous executive says “[Borders] have been extending payables… and most publishers have cut back on what they will advance.” The service reports “three major publishers said they received payments in full from Borders for the December period but three smaller firms said […]
