Two Borders Bookstores in Mission Viejo to Close

Borders announced Monday it will close its 399 remaining bookstores, with closures beginning as soon as July 22 and the last stores finally closing in late September.

Two of those stores, at The Shops on Crown Valley Parkway and on El Paseo, are in Mission Viejo.

Liquidation procedures will begin "as soon as Friday, July 22" for some stores and conclude in late September, according to a statement from the company.

It was not clear on Monday when the Mission Viejo locations would close.

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

The closure will mark the latest big box to fail near the I-5 freeway in a center still searching for tenants for a closed CompUSA store and a shuttered Linens N Things.