The Beard Group Corporate Restructuring Review for April 2011 is now available at http://bankrupt.com/restructuringreview/
Tuesday, May 24, 2011
Borders Seeks Exclusive Right to File Plan Til October
FAIRLESS HILLS, Pa. -- Borders Group, Inc. seeks court authority for an extension of its exclusive right to file a Chapter 11 plan through October.
Other stories on the Borders bankruptcy case, including the company's latest monthly operating report for April and its decision to terminate agreement with Seattle's Best, is available at BORDERS GROUP BANKRUPTCY NEWS, Issue No. 15, published by Bankruptcy Creditors' Service, Inc.
The 15-page newsletter contains stories with these headlines:
[00237] DEBTORS' 1ST MOTION TO EXTEND EXCLUSIVE PERIODS
[00238] DEBTORS' MOTION TO REJECT SEATTLE'S BEST LICENSING PACT
[00239] DEBTORS' MOTION TO REJECT 100 EXECUTORY CONTRACTS
[00240] DEBTORS' MOTION TO EMPLOY ORDINARY COURSE PROFESSIONALS
[00241] ENTITIES FILE NOTICES OF SUBSTANTIAL STOCK OWNERSHIP
[00242] STIPULATION FOR REPLACEMENT LOC WITH TRAVELERS INDEMNITY
[00243] STIPULATIONS EXTENDING TIME TO ASSUME OR REJECT LEASES
[00244] PERSHING SQUARE DUMPS 1.06MM SHARES OF BORDERS STOCK
[00245] CLAIM TRANSFERS -- April 2011
[00246] DEBTORS' MONTHLY OPERATING REPORT -- Ended Apr. 30, 2011
A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.
BORDERS GROUP BANKRUPTCY NEWS tracks the restructuring of Borders Group Inc (MI).
How to Subscribe to BORDERS GROUP BANKRUPTCY NEWS
BORDERS GROUP BANKRUPTCY NEWS is distributed to paying subscribers by electronic mail. New issues are published on an ad hoc basis as significant activity occurs (generally every 10 to 20 days) in the Debtors' cases. The subscription rate is $45 per issue. Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax. Distribution to multiple individuals at the same firm is provided at no additional charge; folks outside of your firm should set-up and pay for their own subscriptions. Subscriptions may be canceled at any time without further obligation.
To continue receiving BORDERS GROUP BANKRUPTCY NEWS, please complete and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP</a>
Tuesday, May 17, 2011
Free Access to 16 Years of TCR News
T R O U B L E D C O M P A N Y R E P O R T E R
Free Access to 16 Years of TCR News
All subscribers to the Troubled Company Reporter have unrestricted
access to our 16-year news archive at http://TCRResources.bankrupt.com/
where news is indexed by company name. There is no charge for this
service; it's included with your TCR subscription. Login to our
database system using the e-mail address to which your copy of the
TCR is delivered each day.
Beard Group Corporate Restructuring Review
Beard Group is now distributing a free monthly audio presentation at
http://bankrupt.com/restructuringreview/ in which TCR editors discuss
recent large chapter 11 filings, chapter 11 filings they see on the
horizon, billion-dollar litigation disputes, delayed chapter 11 exits,
and new issues of publicly traded securities in high-profile cases.
*********
Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par. Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable. Those sources may not,
however, be complete or accurate. The Monday Bond Pricing table
is compiled on the Friday prior to publication. Prices reported
are not intended to reflect actual trades. Prices for actual
trades are probably different. Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind. It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.
Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets. At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled. Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets. A company may establish reserves on its balance sheet for
liabilities that may never materialize. The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.
A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged. Send announcements to
conferences@bankrupt.com by e-mail.
On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases by individuals and business entities estimating
assets and debts or disclosing assets and liabilities at less than
$1,000,000. The list includes links to freely downloadable images
of the small-dollar business-related petitions in Acrobat PDF
format.
Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/books/ to order any title today.
Monthly Operating Reports are summarized in every Saturday edition
of the TCR.
The Sunday TCR delivers securitization rating news from the week
then-ending.
For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911. For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA. Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.
Copyright 2011. All rights reserved. ISSN: 1520-9474.
This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers. Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.
The TCR subscription rate is $775 for 6 months delivered via e-
mail. Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each. For subscription information, contact Christopher
Beard at 240/629-3300.
Free Access to 16 Years of TCR News
All subscribers to the Troubled Company Reporter have unrestricted
access to our 16-year news archive at http://TCRResources.bankrupt.com/
where news is indexed by company name. There is no charge for this
service; it's included with your TCR subscription. Login to our
database system using the e-mail address to which your copy of the
TCR is delivered each day.
Beard Group Corporate Restructuring Review
Beard Group is now distributing a free monthly audio presentation at
http://bankrupt.com/restructuringreview/ in which TCR editors discuss
recent large chapter 11 filings, chapter 11 filings they see on the
horizon, billion-dollar litigation disputes, delayed chapter 11 exits,
and new issues of publicly traded securities in high-profile cases.
*********
Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par. Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable. Those sources may not,
however, be complete or accurate. The Monday Bond Pricing table
is compiled on the Friday prior to publication. Prices reported
are not intended to reflect actual trades. Prices for actual
trades are probably different. Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind. It is likely that some entity
affiliated with a TCR editor holds some position in the issuers"
public debt and equity securities about which we report.
Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets. At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled. Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets. A company may establish reserves on its balance sheet for
liabilities that may never materialize. The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.
A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged. Send announcements to
conferences@bankrupt.com by e-mail.
On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases by individuals and business entities estimating
assets and debts or disclosing assets and liabilities at less than
$1,000,000. The list includes links to freely downloadable images
of the small-dollar business-related petitions in Acrobat PDF
format.
Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/books/ to order any title today.
Monthly Operating Reports are summarized in every Saturday edition
of the TCR.
The Sunday TCR delivers securitization rating news from the week
then-ending.
For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911. For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors" Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA. Marites Claro, Joy Agravante, Rousel Elaine Tumanda, Howard
C. Tolentino, Joseph Medel C. Martirez, Denise Marie Varquez,
Philline Reluya, Ronald C. Sy, Joel Anthony G. Lopez, Cecil R.
Villacampa, Sheryl Joy P. Olano, Carlo Fernandez, Christopher G.
Patalinghug, and Peter A. Chapman, Editors.
Copyright 2011. All rights reserved. ISSN: 1520-9474.
This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers. Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.
The TCR subscription rate is $775 for 6 months delivered via e-
mail. Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each. For subscription information, contact Christopher
Beard at 240/629-3300.
Monday, May 2, 2011
Borders Reports Losses: $299MM in 2010, $54MM in Feb.-Mar. 2011
FAIRLESS HILLS, Pa. -- Borders Group Inc. has finally released its annual report for 2010 and operating reports for the first two months in 2011. Net losses for 2010 were listed at $299 million. Losses for the February to March 2011 period aggregate approximately $54 million.
After a few hitches, Borders has also been given the go signal to implement its employee bonus plans, on modified terms. Eligible employees under the plan can receive up to a maximum of $7 million.
Details on Borders' bonus plans and financial reports, including reports that the Company might be seeking additional financing soon, are available in BORDERS GROUP BANKRUPTCY NEWS, Issue No. 13, published by Bankruptcy Creditors' Service, Inc.
The 33-page newsletter contains stories with these headlines:
[00202] COURT APPROVES BORDERS MODIFIED BONUS PLAN FOR EXECUTIVES
[00203] BORDERS TO HAND $7MM IN BONUSES UNDER MODIFIED PLANS
[00204] BORDERS TO SEEK $50MM IN ADD'L. FINANCING, SOURCES SAY
[00205] DEBTORS' 1ST MOTION TO EXTEND ACTION REMOVAL PERIOD
[00206] DEBTORS' MOTION TO ASSUME & ASSIGN STORE LEASES TO AGREE
[00207] DEBTORS' MOTION TO APPROVE OCW LEASE TERMINATION PACT
[00208] DEBTORS' MOTION TO APPROVE TIAA LEASE TERMINATION PACT
[00209] DEBTORS' MOTION TO SET DE MINIMIS ASSET SALE PROCEDURES
[00210] DEBTORS' NOTICES TO REJECT LEASES WITH EMPRESAS, ET AL.
[00211] DEBTORS' MOTION TO EMPLOY ORDINARY COURSE PROFESSIONALS
[00212] PALLET COMPANIES' MOTION TO ALLOW $8,270 ADMIN. CLAIM
[00213] STIPULATIONS EXTENDING TIME TO ASSUME OR REJECT LEASES
[00214] AGREE REALTY SELLS BORDERS-LEASED PROPERTIES FOR $6.5MM
[00215] COURIER CORP. COVERS BORDERS BAD DEBT OF $750,000
[00216] BORDERS GROUP RELEASES 2010 ANNUAL REPORT
[00217] DEBTORS' MONTHLY OPERATING REPORT -- Ended Feb. 26, 2011
[00218] DEBTORS' MONTHLY OPERATING REPORT -- Ended Mar. 26, 2011
A copy of the newsletter can be purchased on-line with a major credit card at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP">https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP</a> for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.
BORDERS GROUP BANKRUPTCY NEWS tracks the restructuring of Borders Group Inc (MI).
How to Subscribe to BORDERS GROUP BANKRUPTCY NEWS
BORDERS GROUP BANKRUPTCY NEWS is distributed to paying subscribers by electronic mail. New issues are published on an ad hoc basis as significant activity occurs (generally every 10 to 20 days) in the Debtors' cases. The subscription rate is $45 per issue. Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax. Distribution to multiple individuals at the same firm is provided at no additional charge; folks outside of your firm should set-up and pay for their own subscriptions. Subscriptions may be canceled at any time without further obligation.
To continue receiving BORDERS GROUP BANKRUPTCY NEWS, please complete and submit the subscription form at <a href="https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP">https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP</a>
Company: Bankruptcy Creditors' Service, Inc.
Contact: Peter A. Chapman
Phone: (215) 945-7000
Email: peter[@]bankrupt.com
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