One of the major bookselling companies, Borders Group Inc (BGP.N) is in trouble, as warned by the New York Stock Exchange on this Friday, the share price of the company’s shares is extremely low and is no way near to the listed requirements.The company announced that they were made aware of this advancement on Thursday; the company was supposed to maintain the average closing price of $1.00 over a 30 day trading period. Though Borders is now given the time period of almost six months to resolve this problem fix the problem. The shares of the company last fell down to $1.00 on this 28th of January.
Borders almost runs on about 500 namesake stores making it the second-largest book chain in the entire United States. Word on the street is that the company might even need to explore their options for restriction under the court’s supervision, which will in turn mean to be filing a bankruptcy.
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