The second largest book store chain in the United States is set to close up all of its locations in this year, most likely by September. Border’s Books is set to liquidate after it could not find a buyer to save the company.
Border’s canceled its bankruptcy- court auction scheduled for this week as they could not find anyone willing to make a bid to keep the company going. The companies near 11,000 employees are set to be laid off as a result. They are expected to ask a judge for permission to sell to liquidators on Thursday.
If approved, liquidation of the nation’s 399 stores could begin as early as this Friday, with projections of all stores being closed by the end of September. Borders Group President Mike Edwards spoke on the closings attributing the events to a changing market in which electronic media is favored and to the current economic situation.