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September 21, 2011By Sarah Weinman

Bookselling: Nebraska Book Has Trouble with Financing; Two Madison Bookstores Merge; BAMM Opens One, Closes Another; and More

September 21, 2011By Sarah Weinman

In a Monday bankruptcy court filing, Nebraska Book Company said they have not been to secure their planned exit financing of $250 million yet. A hearing to confirm their reorganization plan scheduled for October 4 has been moved to October 27. The company said lenders were citing “various macroeconomic indicators, including a tightening of capital markets, as possible concerns with the debtors’ procuring the exit financing at this time.” Borders reported another $65.9 million in operating losses on sales of just $13.7 million for the month of August. (“Other revenue”, however, was $126.8 million, nearly double the $57.6 million from […]

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Filed Under: Bookstores, Borders

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