Borders loses $328 Million
Published: 08/24/2011 04:18am
Borders filed its monthly report with the bankruptcy court, revealing that it lost $328 million in the month of July, a new record for the liquidating chain (see “Bye Bye Borders”). The losses came primarily from writing down the value of the company’s inventory and its long-lived assets. The company had sales of $94.7 million in July.
Borders had $114.5 million in cash and $208.5 million in inventory at the end of the month.
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