Business & Tech
Local Borders Closing in April
Borders Books and Music on North Highland Road is on the list of stores closing as part of the company's Chapter 11 reorganization process.
Borders filed for Chapter 11 bankruptcy reorganization on Wednesday.
“It has become increasingly clear that in light of the environment of curtailed customer spending, our ongoing discussions with publishers and other vendor related parties, and the company’s lack of liquidity, Borders Group does not have the capital resources it needs to be a viable competitor," said Mike Edwards, Borders Group President, in a news release.
Along with filing bankruptcy, the company reported it will close about 30 percent of its stores, including the in the Crossgates Shopping Center on North Highland Road. Borders said the decision is not final, however, the store is expected to close before the end of April 2011. Click here to see the full list of stores expected to close. Borders officials said the list is a reflection of economic conditions, cost structures and viability of locations.
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The company plans to continue to honor its Borders Rewards program, gift cards and other customer programs.
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