Borders closing 28 more U.S. stores as Ann Arbor-based book seller's bankruptcy continues
Borders will close 28 more superstores this spring, the Ann Arbor-based book seller announced late Thursday as part of its ongoing bankruptcy reorganization.
None of the stores are in Michigan.
According to a report on Reuters.com, Borders also is receiving shipments on "cash on delivery" terms.
The closures leave the chain with half the number of the superstores it had before its February bankruptcy filing, when it announced 200 closings. Four were in Michigan, including the Arborland store in Ann Arbor.
The new closings affect outlets in 16 states, including 7 stores in California, according to an updated list posted on the Borders web site for bankruptcy information.
While no Michigan store is affected by the closing, the landlord of two unaffected-to-date Ann Arbor properties recently disclosed that it's in default on 3 mortgages.
Comments
Wolf's Bane
Fri, Mar 18, 2011 : 6:32 p.m.
Flogging a dead horse is unattractive.