triage
One of the other pieces of news from Borders was that an additional # of stores would be closing besides the 16ish that had been announced and which have been having their clearance sales in recent weeks. Borders spokesman told Publishers Lunch those numbers would not be commented on, publisher sources say another 10-17. If you are a retailer, and you are in a cash bind, the very first and most important person you need to pay is your landlord. Your landlord is the one person in the world who can change your locks. And if the landlord changes the locks, you lose access to all of the assets including inventory and fixtures that might have liquidation or sales value for you. The second person, the electric company, because you need the lights on and the cash registers working. Publishers, employees, all of those people need to get paid after you pay the landlord. If I'm a publisher or possible lendor, a question I might ask is "so how many stores with a lease up from July...