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Follow on Google News | Borders Reports Losses: $299MM in 2010, $54MM in Feb.-Mar. 2011BCSI reports on latest events arising in the chapter 11 cases commenced by Borders Group Inc (MI).
By: Bankruptcy Creditors' Service, Inc. 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 https://ecommerce.bankrupt.com/ 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 https://ecommerce.bankrupt.com/ End
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