Borders leases all its stores. It has about $1.3 billion in liabilities ($350 million in debt, $620 million in payables and another $350 million in other long-t

Borders leases all its stores. It has about $1.3 billion in liabilities ($350 million in debt, $620 million in payables and another $350 million in other long-term liabilities). In the most recent quarter for which it reported results, it lost $74 million. Ouch.