Bloomberg: Borders stock falls 22 percent after Ann Arbor company misses vendor payments
Posted on Fri, Dec 31, 2010 : 8 p.m.
Investors aren't welcoming the latest news from Ann Arbor-based Borders Group Inc.
The bookseller's stock dropped 22 percent on Friday, following news on Thursday that it has missed some vendor payments.
Now a report from Bloomberg tracks the company's stock performance on Friday, when the company posted the biggest single-day drop for the company since 2009.
Borders [NYSE: BGP] stock fell to 90 cents per share on fears that the company is in the midst of a liquidity crisis.
Read the full Bloomberg report here.
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