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Article: BORDERS GROUP RESPONDS TO INQUIRIES CONCERNING KMART'S REAL ESTATE OBLIGATIONS
- Article from:
- PR Newswire
- Article date:
- December 14, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ANN ARBOR, Mich., Dec. 14 /PRNewswire/ -- Borders Group, Inc. (NYSE: BGP), the Ann Arbor-based books and media retail chain, today issued a statement in response to inquiries regarding a disclosure contained in Kmart Corporation's (NYSE: KM) Quarterly Report on Form 10-Q, for the period ended October 22, 1995. The disclosure concerns the contingent obligations of Borders Group and certain former Kmart subsidiaries to make, or reimburse Kmart for, early payment on certain real estate related debt should Kmart's debt be further downgraded to non-investment grade status.
Borders Group said that of the reported $95 million of principal amount of debt potentially putable ...
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