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Borders has retained bankruptcy (and restructuring) counsel Kasowitz Benson, Torres, & Friedman to advise the company as it attempts to restructure its debt, according to the Wall Street Journal. The company is trying to stay out of bankruptcy court, according to the report.

It would not be unusual for a company to hire bankruptcy counsel even if it hopes not to file, so that it can conduct its business in such a way so that if it does have to file, it has taken the proper steps. Bankruptcy counsel can also advise the company on how to use the threat of bankruptcy to extract concessions from its creditors.

http://www.shopofmagic.com/News/11-01/Lords%20of%20Madness.JPGWizards of the Coast has announced that it will no longer release prepainted Dungeons & Dragons Miniatures sets. The last set in this line is Lords of Madness.  

WotC will continue to release some prepainted minis in other formats, such as the Beholder Collector’s Set released last fall.  Minis will also be incorporated into other products, such as the Wrath of Ashardalon boardgame.  

The company will also offer other options for character and monster representations on the tabletop, such as the tokens in Monster Vault.

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Click on the 'Read more' link below to see ICv2's picks for the Top 10 Hobby Games Business Events of 2010, based on their assessment of long term impact.

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Barnes & Noble provided more details last week on its holiday sales. Earlier this week the company reported that its same store sales were up 9.7% for the 9-week holiday season. Sales of toys and games, an area of increased emphasis for B&N this year, were up 48% for the holiday season.

Not much detail has been given on sales of books, B&N’s core business. The company is touting its sales of Nook e-readers and digital books. Of books, the company said only “physical book sales, especially hardcover books, were better than expected.”

http://www.shopofmagic.com/News/10-12/MTG%20Logo.jpgA former Wizards of the Coast employee has been charged with felony theft for allegedly stealing $45,000 worth of Magic: The Gathering promotional cards, according to SeattlePI. The theft came to light when large numbers of promo cards were spotted being offered by a Burien, Washington retailer at a Portland convention. The retailer ended up turning over 1700+ cards worth nearly $45,000 at market prices to WotC.

 

The cards were allegedly stolen from a Wizards of the Coast storage locker to which former employee Donald Henry had access. Henry has been charged but not jailed in the case.

Wizards of the Coast is stepping up its efforts to keep promotional cards from falling into the wrong hands; the company also sued and settled with tournament organizers accused of diverting cards earlier this year (see WotC Gets $100K).