Deals

Borders, in Bankruptcy, Plans to Pay $8.3 Million in Bonuses

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Linda Sandler and Tiffany Kary

March 25, 2011 at 5:31 PM UTC

This article is for subscribers only.

Borders Group Inc., after filing for bankruptcy in February with plans to close about a third of its stores, said it plans to pay key employees as much as $8.3 million in incentives and retention bonuses.

The second-biggest U.S. bookstore chain asked a judge to approve its plan in a filing yesterday in U.S. Bankruptcy Court in New York, saying it historically compensated employees through incentives.