Borders "could become $1.5bn company"

Borders "could become $1.5bn company"

Borders could become a bookseller with sales of $1.5bn if it emerges from bankruptcy, according to a compensation services firm which has recommended more than $8m in bonuses for senior staff.

John Dempsey, a partner with Mercer, made the claim to Publishers Weekly, adding the cost of the bonus package would only account for 0.56% of post-bankruptcy sales. A hearing on the proposed bonus plan will take place later today (14th April).

Dempsey said a swift decision must be made if Borders is to move quickly from Chapter 11 bankruptcy, which it entered earlier this year. He said the bonus scheme was essential to hold onto key senior staff. Over the past two years more than 85 directors and officers have left the company.