Borders could announce closure of another 75 stores this week

Borders could announce closure of another 75 stores this week

Borders could be set to announce the closure of another 75 stores, as it continues to reposition itself after filing for bankruptcy.

Publishers Weekly reports that in a conference call to suppliers on Friday, c.e.o. Mike Edwards said any store closures would be among its 285 superstores. An announcement is expected within the coming days.

The 20 largest publishers, who accounted for 63% of Borders' sales in 2010, are continuing to supply cash in advance. Edwards reiterated his demand for publishers to normalise terms.

While a new business plan will not be revealed until April, Edwards said he anticipated the new look business would have a new stock policy as well as highlighting e-books.