Borders begins liquidation sales at all stores

NEW YORK (AP)  Borders will begin liquidation sales at all of its 399 stores as the 40-year-old chain winds down operations.

A liquidation company that is part of the process said late Thursday that the sales will be held starting Friday at all 259 Borders superstores, 114 Borders Express and Waldenbooks, and 26 Borders airport stores.

Gordon Brothers Group, part of a group of liquidators leading the sales, says more than $700 million of the company's inventory, including books, stationery, music and movies will be sold.

Store fixtures, furnishings and equipment, including shelving and, in some cases, cafe equipment, will also be sold off

Discounts of up to 40% off will be offered on the merchandise initially. Liquidation sales typically last eight to 10 weeks and discounts usually get steeper later in the process, although merchandise is scarcer.

New lease? Books-A-Million, based in Birmingham, Ala., is offering to buy the leases and assets of 30 Borders stores and keep them open. Here's a look at the locations that may stay open if the bid is approved. The two chains are still in talks.



CALIFORNIA

San Diego

Sand City

CONNECTICUT

Waterford

DELAWARE

Dover

OHIO

Canton

MAINE

Bangor

Portland

MARYLAND

Columbia

Hagerstown

Waldorf

NEW HAMPSHIRE

Concord

West Lebanon

NEW JERSEY

Mays Landing

NORTH CAROLINA

Southern Pines

OREGON

Eugene

Gresham

Salem

PENNSYLVANIA

Butler

Exton

Hanover

Monaca

Pennsdale

Selinsgrove

Scranton

York

SOUTH CAROLINA

Charleston

SOUTH DAKOTA

Rapid City

TEXAS

San Antonio

VIRGINIA

Woodbridge

WISCONSIN

Eau Claire



Borders gift cards will be valid throughout the sale.

"This marks the end of an era," said Borders Group President Mike Edwards.

Still, some stores may remain open as Books-A-Million stores. The chain is bidding for leases and assets of 30 Borders stores. Under the proposed bid, Books-A-Million will assume the leases and continue to operate the stores.

Books-A-Million operates 231 Books-A-Million, Bookland and Books & Co. stores.

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