Borders shares dive on cashflow concerns (BBC)

[eppur_se_muova]

Shares in Borders have fallen 15% after the US bookselling group said it would delay payment to some publishers in a bid to preserve cash.

The company has been left short of money after its available credit under existing agreements was cut because the value of its inventories has fallen.

Borders said it was seeking to replace those credit facilities.

But if it failed to do so, the second largest bookseller in the US said it could face a "liquidity shortfall".

Company spokeswoman Mary Davis said that the firm would work with the publishers that supply it with books in order to restructure their payment arrangements.
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more: http://www.bbc.co.uk/news/business-12097769




Book inventories are considered less valuable now? Is that because the Repugs are taking over? Or did they overstock on Palin and Beck screeds?

[WCGreen]

1. The move to E Books....

[grasswire]

2. I thought they were already in bankruptcy

The Borders near me closed a couple of years ago.