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Tuesday, July 19, 2011

Borders Could Shut Down by This Weekend (Updated)

Posted By on Tue, Jul 19, 2011 at 9:38 AM

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Update: Borders will begin liquidating as early as Friday, closing some 399 stores nationally that employed 11,000 people after a deal for the book store chain fell apart. (Detroit Free Press has a good read.)

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It's hard to think of a less tenable business model than selling hard-copy books at a brick-and-mortar store (with CDs, too! Like Kenny Loggins' greatest hits!) these days. (Unless you count the alt-weekly business, naturally.) Meg Ryan taught us this in a movie we fell asleep while watching in bed. The one with Tom Hanks and the volleyball, we think.

Anyway, with Joseph Beth already six-feet under, news arrives that Borders, which has some locations around Northeast Ohio and employs about 11,000 nationally in 399 stores nationwide, might close for good by this weekend after a potential buyer fell through for the bankrupt book chain. (Via WSJ)

So if you're free one of the next few days, head over and buy a cup of coffee and read one more book for free in one of those comfy chairs. It's what Borders would want.

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