As the Wall Street Journal reports:
In its bankruptcy petition, Borders listed assets of $1.28 billion and liabilities of $1.29 billion as of Dec. 25.This has not surprised anyone, since Borders had announced that bankruptcy was a strong possibility a month ago. More information about the case is available here.
Borders' five largest unsecured creditors are the book publishers Penguin Putnam Inc., Hachette Book Group, Simon & Schuster Inc., Random House and Harper Collins Publishers.
UPDATE: The WSJ has posted a handy list of the stores to be closed, sortable by city, state, zip code, and size. (May be gated.) Six are listed in Massachusetts, including one on Boylston St. in Boston.