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.
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.