Borders Chain Liquidating, Woodbridge Store to Close
Wall Street Journal reports that Borders received no formal proposals to buy the company out of bankruptcy protection.
While it was spared once, the Woodbridge Borders will soon be no more.
The local book store was saved from closure in February when the company declared bankruptcy but in light of recent events at the company, nearly 400 stores will close due to liquidation.
The Wall Street Journal reported Monday that because of a lack of buyer interest, Borders has thrown in the towel.
From the Borders press release:
Borders currently operates 399 stores and employs approximately 10,700 employees. Subject to the Court’s approval, under the proposal, liquidation is expected to commence for some stores and facilities as soon as Friday, July 22, with a phased rollout of the program which is expected to conclude by the end of September.
A nearby Stafford County location was one of many local stores to close in February.
Nearby locations include Manassas, Fairfax, Chantilly and Fredericksburg.
Davin Peterson
6:21 pm on Monday, July 18, 2011
Borders is a victim of ebooks. I'll miss Borders. It's sad they couldn't find a buyer. If you'll recall Crown Books went out business several years ago. Now, the only remaining bookstore in Woodbridge, is the Books-A-Million inside Potomac Mills Mall
Faye Styles-Frye
7:48 pm on Tuesday, July 19, 2011
I agree!!
Lauren Jost
6:25 pm on Monday, July 18, 2011
You're correct, Davin. It's sad to see the store go.
Steve Lack
1:37 am on Tuesday, July 19, 2011
It is sad to see any book store close. I have been a huge fan of both chains and independents for years. I must admit though, that I am guilty of only buying ebooks, mainly on Kindle, for the past several years. I like the concept of Patch, too, but I am still getting the (Sunday only) Washington Post. Will physical, paper versions of newspapers go the way of Borders soon?
Lauren Jost
11:30 am on Tuesday, July 19, 2011
Interesting thought, Steve. I hope newspapers will stick around, I love reading them.