U.S. Borders Store Chain Reprieves 5 More Outlets

posted on by Andrew Osmond

Following its motion on Friday to take six outlets off its list of stores slated to close, Borders has reprieved five more stores. This takes the total number of additional stores due to close down to 40.

The five stores include two in the Baltimore/Washington International Airport; a store in Swampscott, Maryland; one in the Rye Ridge Shopping Center in Port Chester, New York; and the Cross Count Mall outlet in Mattoon, Illinois.

Meanwhile, more companies have made applications for payment for services during the period from February to April. They include Borders' investment banker, Jeffries & Company. Jeffries will meet with over 80 parties to discuss possible interest in buying Borders' assets or new avenues of financing. According to the industry news source Publisher's Weekly, Jeffries's bill for its services was $459,505.82 plus $17,615.94 in expenses.

Borders already closed 30%, or about 200, of its stores earlier this year.

Source: Publishers Weekly

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