Tuesday, July 19, 2011

Borders Closing Book Stores

National bookstore chain Borders announced Monday that it will move forward with the sale of the company to a pair of firms which will liquidate what's left of the Ann Arbor, Michigan-based firm, including the bookstore's location at the South County Mall in Mehlville. It will close all remaining 399 bookstores with six in the St. Louis area.

Employees estimate the store will be closed within one to three months. After a tally of inventory, the bookstore will have a sale to get rid of all its remaining stock. Pending court approval, liquidation of some stores could happen as early as Friday and be complete by September. The chain intends to liquidate under the Chapter 11 bankruptcy code.

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