In Friday’s Lunch we compared Borders’ presentation to publishers on Thursday as Groundhog Day–a repetition of the same basic plan they had been talking about since late December–and it also appears that there may not be a final decision on the bookseller’s fate until Groundhog Day itself, the rough deadline set by Borders. The WSJ adds the name of the law firm that is representing Borders in the restructuring talks (Kasowitz, Benson, Torres & Friedman), and provides an estimated amount for the new credit line under negotiation with GE and others: “$500 million or more.” That is considerably less than […]
