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By on February 17th, 2009

Borders Gets Another Extension

According to our friend Jim Milliot at Publishers Weekly, there continues to be no shortage of speculation about the future of Borders, but the source of the most recent rumors has been again delayed. The company announced Friday afternoon that the deadline for Pershing Square Capital Management to exercise its put option to acquire Border’s Paperchase subsidiary has been extended until April 15. Pershing, Borders’s largest shareholder, has the right to buy Paperchase for $65 million. The original deadline had been January 15, but had been pushed back to February 16. The retailer also announced that the repayment of a $42.5 million loan due Pershing has been postponed to April 15 as well.

The retailer also announced that it plans to release it final results for 2008 on March 31 with a conference call set for April 1.

About the Author

David Hancock is reported to be the future of publishing and is the Founder of Morgan James Publishing and The Ethan Awards. David has co-authored ten books including "Guerrilla Marketing for Writers", "The Entrepreneurial Author" and "The Best of Guerrilla Marketing". David also sits on the Advisory Board of the National Center for the Prevention of Community Violence and serves on the Executive Board of Habitat for Humanity Peninsula and Greater Williamsburg.

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