Borders' April: $132 million in losses

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201105231322 Borders' April: $132 million in losses

Borders’ woes continued in April as their losses mounted, PW reports.

Borders lost more money in April than it did in March, according to statements filed with the bankruptcy court Friday. The company had a loss from continuing operations of $32.1 million in the month, and when reorganization costs are added in lost a total of $132 million. Sales in the March 27-April 30 period were $101 million and other revenue of $72.1 million making for total revenue of $173.1 million.


Borders filed for bankruptcy earlier this, closed a bunch of stores, and is still bleeding cash, thanks to years of mismanagement.

Meanwhile, as if to thumb its nose at Borders, which is desperate for a sale, B&N just got a $1 billion purchase offer from Liberty Media.

Comments

  1. Snikt Snakt says:

    At what point will Borders just call it a day and close shop already?!?

  2. Al™ says:

    Never liked the name Borders, it left me cold. A place of inspection and document checking. yeesh.

    But it was a given, as Tom and Louis Borders started it all in 1971.

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