Borders to Close in Braintree

The superstore on Grossman Drive in Braintree will be closed by the end of May, one of 28 locations added to the company's bankruptcy plan, which was approved in February.

An additional 28 closings from California to Connecticut, including one more in Massachusetts – Shrewsbury – have been added to those announced earlier this year, making 228 altogether, according to The Associated Press. About 400 stores would remain open.

The U.S. Bankruptcy Court in New York approved Borders' reorganization plan under its Chapter 11 bankruptcy on Feb. 17. The first 200 underperforming stores selected will be shut down by the end of April, according to a statement released at the time.

"It has become increasingly clear that in light of the environment of curtailed customer spending, our ongoing discussions with publishers and other vendor related parties, and the company's lack of liquidity, Borders Group does not have the capital resources it needs to be a viable competitor and which are essential for it to move forward with its business strategy to reposition itself successfully for the long term," Borders Group President Mike Edwards said in a release.

In the meantime, the company said, it will continue to honor its rewards program, gift cards and other programs, and "expects to make employee payroll and continue its benefits programs for its employees."

Edwards added that "with the support of employees, publishers, suppliers and creditors, and the reading public, a successful reorganization can be achieved enabling Borders to emerge from the process as a stronger and more vibrant book seller."

Braintree and the other additional locations will close by the end of May, the AP reported, and the company will likely emerge from bankruptcy by September. Borders is the number two U.S. bookseller, behind .