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Borders Delays Payments To ‘Vendors, Landlords and Others’

Borders.GIFBorders revealed today that they will delay payments a number of “vendors, landlords and others” that were expecting payments at the end of January.

Here is more from the release: “The delay is intended to help the company maintain liquidity while it seeks to complete a refinancing or restructuring of its existing credit facilities and other obligations … Borders emphasized that it understands the impact of its decision on the affected parties, but that the company is committed to working with its vendors and other business partners to achieve an outcome that is in the best interest of Borders and these parties for the long-term.”

Earlier this week, GE Capital provided a commitment to help the struggling bookseller restructure its finances with a “$550 million senior secured credit facility.” However, Borders must secure help from other sources to arrange for $125 million in “junior debt financing” to cover vendor debts and continue with store closures (“the identification of underperforming stores that will be closed as soon as practicable”).

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Lauren Berger Writes New Book for Young People Entering "Real World"

Lauren Berger Welcome to the Real WorldCareer Expert, Lauren Berger, releases her second book, Welcome to the Real World: Finding Your Place, Perfecting Your Work, and Turning Your Job Into Your Dream Career (Harper Business), on April 22nd. In this book, Berger shares everything she wishes someone told her after graduation. Her book is the essential guide to anyone starting their first, second, or third job. She encourages readers to be fearless, step outside of their comfort zones, and go after what they want.