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Borders Debt: Major Publishers Claimed They Were Owed Millions

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BORDERS DEBT
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When Borders closed its stores a year and a half ago, it left thousands of creditors unpaid. A Publishers Weekly story today features the list of the 20 largest unsecured publishing creditors, who were owed a combined total of roughly $241 million.

Ninety days before the bankruptcy was filed, some payments were made:

Random House is owed $33.5 million and was paid $24.3 million; Harper Collins is owed $25.8 million and was paid $14.1 million; and Penguin Putnam is owed $41.1 million and was paid $12.2 million.

But how much most creditors will receive still remains uncertain, with some creditors filing their claims in court.

Here's the 20 largest unsecured publishing creditors as a result of the bankruptcy, and how much they claimed to be owed by Borders at the time:

1. Penguin Putnam $41,118,914
2. Hachette Book Group $36,879,656
3. Simon & Schuster $33,757,445
4. Random House $33,461,062
5. HarperCollins $25,793,451
6. Macmillan/MPS $11,434,306
7. John Wiley & Sons $11,191,435
8. Perseus Distribution Services $7,776,292
9. Source Interlink Companies $6,879,906
10. F&W Media $4,546,275
11. Houghton Mifflin Harcourt $4,400,756
12. Workman Publishing $4,003,126
13. Diamond Comic Distributors $3,906,550
14. McGraw-Hill $3,093,871
15. Pearson Education $2,784,766
16. Rosetta Stone $2,226,553
17. National Book Network $1,956,713
18. W.W. Norton & Company $1,940,826
19. Zondervan $1,886,752
20. Hay House $1,886,752

Read more at Publishers Weekly.

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