John Mansfield sends a link to TeleRead’s “A Run on the Borders” reporting new symptoms of the bookseller’s failing condition:
A few days ago, I mentioned Borders’s financial problems—it had to delay payments to some publishers because it needed all the cash on hand it could keep as it was trying to refinance its debt after a new appraisal reduced the value of its assets. Now Galleycat reports that two of Borders’s executives have resigned: executive VP Thomas D. Carney and CIO D. Scott Laverty have both stepped down.
One big publisher has stopped shipments to Borders according to Publishers Weekly.
“So the race is on,” says John. He asks, “Who collapses first, Borders/Chapters/Barnes & Noble??”