Dallas to Lose its Last Borders as Chain's Liquidation to Commence Friday
|Courtesy Paula Bosse|
|Byron Nelson signing copies of his 1993 book at the Preston Royal Borders|
Which doesn't mean liquidation's a sure thing; as the Wall Street Journal notes this morning, "Borders is likely to entertain offers right up until the scheduled auction in the hopes a white knight will emerge to save the chain." But folks working at the lone Dallas location, in Old Town, are nervous; they haven't heard Word One from corporate and are fearing the worst while hoping for the best. Meanwhile, the WSJ has posted an interactive map featuring all the remaining Borders in danger of shuttering along with the square footage of each store, with Old Town coming in at more than 40,000, making it one of the biggest in the country.
Update at 5:58 p.m.: The auction has been canceled, and Borders is days away from officially being declared dead. From Reuters:
A liquidation group led by Hilco Merchant Resources will begin liquidations as early as Friday, Borders said in a statement. The bookseller will seek bankruptcy court approval of the closing procedures at a hearing set for Thursday.