The folks at Debtwire–the same outfit, we should remember, that misreported a story earlier this year contending that some vendors had retained counsel to collect monies owed to them by Borders–has filed another long story, carried on the FT web site, about Borders’ credit issues. Close watchers of the company know that there have been two significant liquidity deadlines: their $42.5 million loan from principal owner Pershing Square is due April 1, and the revolving credit agreement that allows them to conduct business expires in July 2011. Getting that credit line renewed in today’s world of restricted lending, particularly since […]
