News U.S. Borders Book Chain to Close Up to 51 More Stores
posted on 2011-06-10 17:27 EDT
On Thursday, Borders filed plans to close up to 51 stores in two weeks, including stores in downtown Boston; Phoenix; Arlington, Texas; and New York City (three stores).
According to the industry news source Publishers Weekly, the 51 stores have not signed stipulations extending lease rejection dates through September 14, although they still could. Nearly 365 Borders locations, or 90% of the total, have.
Publishers Weekly commented, "To stay on schedule, an auction among liquidating bidders would take place, June 16, and with court approval the Store Closing Sales would begin June 22. Borders is hopeful that at worst, it will only need to close a few stores." Publishers Weekly also posted Borders' Thursday filing with the list of stores that may close on page 32.
Borders already closed 30%, or about 200, of its stores earlier this year.