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Business News Retail
Borders US reportedly shutting 150 stores
By CMU Editorial | Published on Thursday 3 February 2011
Borders in America might be about to go the same way as the UK version of the books and music seller, with reports from Bloomberg that the retailer is planning to shut 150 stores across the US and could soon apply for Chapter 11 bankruptcy protection. It’s not all doom and gloom, GE Capital have reportedly provided a multi-million loan facility, though it seems certain that the Borders chain will be substantially smaller by the end of the year.
The UK version of Borders, which span off from its American parent into its own company, finally bit the dust at the end of 2009.
