Bloomberg News, reported late Tuesday afternoon that Borders could file for bankruptcy protection as early as next week and close as many as 150 stores.
Borders' shares have tumbled 47 percent this week to close at a new 52-week low of 39 cents.
Borders, the nation's second-largest bookstore retailer, said on Sunday that it was postponing its payments to vendors, landlords and other parties this month in order to refinance or restructure its debts.
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