Friday, July 22, 2011

Borders bookstores closing, liquidation begins


An estimated 400 Borders bookstores are closing and approximately 11,000 employees will lose their jobs.

Borders Group Inc. has begun the daunting task of liquidating their assets, which include books, DVDs, and even furniture, valued at nearly 700 million dollars. 

The mega bookstore chain is expected to shutdown in September 2011.

According to one website, the Borders bookstore in Hype Park at 1539 East 53rd Street, began their liquidation sale back in March.

The Borders bookstore in Uptown at 4718 North Broadway, where Goldblatt's used to be, is already closed.

According the Los Angeles Times, starting today, items at the remaining bookstores will be marked down 40%.
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2 comments:

  1. towandaJuly 22, 2011 at 10:16 AM

    Modern technology sure has done a number on books for sure. We will miss them. Every time we went downtown, we went to the only store left in Chicago proper. Now, that's closing too:( What's next...Libraries?

    ReplyDelete
  2. Chicago News ReportJuly 22, 2011 at 6:31 PM

    T., I love books and I love bookstores. I am really sorry to see Borders is closing. I wonder what will happen to the building were the Uptown Goldblatt's used to be. Condos maybe?

    ReplyDelete

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