Borders Group is in discussions with restructuring advisers, The Wall Street Journal reports. The U.S. book and music retailer is talks with Jefferies & Company along with others to advise it on reworking its debt.
The Michigan-based company is in talks with GE Capital for new loan, which will replace its existing senior credit facility. Borders Group secured $970 million in loans under a revolving credit line from lenders led by Bank of America and GE Capital.
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