Borders Bookstores to Close
Borders Bookstores are closing the remaining stores. sun-sentinel.com
NEW YORK (Reuters) - Borders Group Inc, the second-largest U.S. bookstore chain, said it has canceled an upcoming bankruptcy auction and will close its doors for good.
The company said in a statement Monday it was unable to find a buyer willing to keep it in operation and will sell itself to a group of liquidators led by Hilco Merchant Resources.
Borders’ roughly 400 remaining stores will close, and nearly 11,000 jobs will be lost, according to the company.