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Borders files for Chapter 11
NEW YORK -- Borders Group filed for Chapter 11 bankruptcy on Wednesday. The troubled bookseller plans to close 30%, or about 200, of its most underperforming stores during the next few weeks. The long-expected filing will allow Borders to access new capital and reorganize its operations, Borders Group president Mike Edwards said in a statement.
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Kroger executive VP Donald Becker dies at 62
Cincinnati -- Kroger Co. announced late Wednesday that executive VP Donald E. Becker died Wednesday after suffering an aneurysm. He was 62 years old.
Becker started with Kroger as a clerk in 1969 in the Cincinnati-Dayton area and worked his way up to hold several leadership positions. In 2004, he became executive VP, a role in which he led the company's merchandising and purchasing among other duties, the company said in a statement.