Borders UK, which split from Borders Group, in 2007 went into administration late iin 2009. There are no stores left.
In what’s very worrying news for the surviving US group we discover that Borders will not be paying publishers on time. The WSJ has the story and it’s related to the group’s cashflow problems. If these problems aren’t solved – and Borders says it’s far from certain that they will be – then publishers might never get paid.
Borders is America’s second biggest bookstore chain with Barnes & Noble in first place. If a store as large as Borders was to go into administration without paying publishers then the fear is that some comic publishers will be hit with a blow they’d not recover from.
Hat tip to Bleeding Cool.