Court documents filed for Borders' Chapter 11 bankruptcy showed that dozens of corporate employees have already quit their jobs with the failing company.

According to The Detroit News, "Of the 47 employees who left the ailing Borders Group Inc. since it declared bankruptcy on Feb.16, two dozen quit this month [...] The departure of two unnamed executives - a senior vice president and a vice president - earlier this month leaves 15 people in senior management positions." 

Due to this severe staff crunch, Borders reported that it will not make its annual report filing deadline for SEC. Most of the staff is currently working on the accounting and financial reporting relating to the Chapter 11 bankruptcy filing. 

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