Business & Tech
Borders Chain Liquidating, Bailey's and Springfield Locations to Close
Wall Street Journal reports that Borders received no formal proposals to buy the company out of bankruptcy protection.
Book lovers who frequently venture outside of Annandale to the Borders in Bailey's Crossroads or nearby will soon have to find a new bookstore.
The Wall Street Journal reported Monday that because of a lack of buyer interest, Borders has thrown in the towel and will liquidate nearly 400 stores after declaring bankruptcy in February.
From the Borders press release:
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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.
Other nearby locations near Annandale include a Borders in Springfield at 6701 Frontier Drive and locations in Fairfax.
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