Bookstore Bust: Q&A With Borders Officials On What Happens Next

Borders, an Ann-Arbor, Mich. based bookstore chain, filed for bankrupty protection on Feb. 16. Soon after, the Carrollwood store at 12500 N. Dale Mabry Highway began marking down items in anticipation of its closure.

Patch spoke to Borders Group Public Relations Manager Mary Davis about the closing of the local store – one of approximately 200 stores throughout the country that will be shutting their doors this spring.

Patch: When will the store close?

Davis: No later than the end of April. Sooner if they sell through the inventory quickly.

Patch:  When will they have an inventory blow out sale? 

Davis:  Items are currently marked at 20 to 40 percent off.  Again, depending on how much product is sold, further discounts are possible as the weeks go on. 

Patch:  How many employees will be let go? 

Davis:  There are 25 employees at that location that will be affected.

Patch:  Will they be sent to other stores in the area to work, or given a severance package?  

Davis: Borders will do their best to place these employees in other stores.  They look at a number of criteria (position, seniority, etc).  Those who are not placed at a different location will not receive a severance package. 

Patch:  What will happen to the building itself? How much is the building worth? 

Davis:  The store was handed over to the liquidators.  As a result, Border has no say or control over what happens to the building.

Patch:  How much will the land be sold for if they are going to level the building? 

Davis:  This has nothing to do with Borders.  The ultimate decision is now in the landlord’s hands.