Borders Execs Resign
Prez Headed to NY
Published: 01/04/2011, Last Updated: 01/05/2011 01:55am
Two Borders executives resigned over the last two days, as the company continues to pay its suppliers late (see “Borders Delays Vendor Payments”). EVP General Counsel Thomas Carney resigned on Sunday, and SVP Chief Information officer D. Scott Laverty resigned on Monday.
Other executives, including CEO Mike Edwards, are headed to
In a statement given to the Times, Borders said that its stores were well-stocked, and that it was not in a “liquidity crisis.”
Most of Border’s suppliers aren’t talking about the situation publicly. Two exceptions are wholesaler Ingram Book Company, which told the Times that it was continuing to ship to Borders, and distributor National Book Network, which told the Wall Street Journal that it was temporarily holding shipments.
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Bissette in 'Quandary'Meanwhile, co-creator Steve Bissette described the conundrum of his situation.