Borders Group Inc. is seen to file for bankruptcy next week. According to Bloomberg News, three unnamed sources will have to course through this action to save the bookstore chain. Part of the move is also to close about 150 store locations.
Borders has also received $550 million in financing from General Electric Capital. It has vowed to also save the company by paying off all credit debtors in a move seen to averse the filing of bankruptcy.
In the last three years, the company has registered a steady downtrend of in profits.
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