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Borders Appoints Bankruptcy Lawyers

Borders Group has appointed law firm, Kasowitz, Benson, Torres & Friedman, to protect it from bankruptcy.

Borders Group has appointed law firm, Kasowitz, Benson, Torres & Friedman, to protect it from bankruptcy, The Wall Street Journal reports. The law firm will advise the publisher on securing a $500 million credit line from GE Capital.

The new revolving credit facility will allow Borders to repay $220 million in current outstanding senior debt. Restructuring advisers from investment bank, Jefferies & Company, will also help the company in rearranging its finances.

Click here for the story from The Wall Street Journal.

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