Nation's Second Largest Bookstore to Fold

Borders, the nation’s second largest bookseller, announced Monday it will close its 399 remaining bookstores, with closures beginning as soon as Friday. The last stores will close their doors in late September.

It was not clear on Monday when the nearest locations to Seal Beach and Los Alamitos would close. The nearest Borders stores are in Lakewood, Mission Viejo and Costa Mesa

Borders Group President Mike Edwards said the company's business plan failed because of "the rapidly changing book industry, eReader revolution, and turbulent economy."

Paige Austin contributed to this report.