A new filing in federal bankruptcy court yesterday indicated how much money Borders paid creditors in the 90 days leading up to its Chapter 11 filing on February 16, and how those payments were dispensed. Looking at the largest publishing houses, Random House and Penguin received approximately $24 million, but Penguin received two bulk payments of about $12 million on November 19, while Random collected payments through February 3, though nothing more sizable than $1.6m received on December 24. HarperCollins received $14.1 million, with $12.5m paid by December 9, and nearly all of Macmillan’s $6.8m paid was received from Borders […]
