Borders Closing Sale Starts Friday

ST. PETERSBURG – If you have an unused gift card or want some sweet deals on books and DVDs, head to Borders at Tyrone Mall on Friday for the start of its going-out-of-business sale.

A federal bankruptcy court on Thursday approved a plan by Borders to liquidate and close its remaining 399 stores across the United States, according to Bloomberg news service. The only Borders store in St. Petersburg is at the Tyrone Square Mall.

Earlier this week, Borders Group Inc. announced that it would seek permission in bankruptcy court to shut down operations, after it failed to renegotiate the terms of its debt or find new investors.

Shoppers at the Tyrone Mall this week did not express surprise at the closing, with some saying they had not shopped at the chain bookstore in a long time. Borders has been losing money, since consumers have migrated online to buy their books more cheaply, or are using Kindles to get their books electronically.