Borders Gets Approval To Close More Stores
ANN ARBOR (WWJ) – Borders gets approval from a federal bankruptcy judge to close another 28 stores around the country. The Ann Arbor-based bookseller closed 200 of its nearly 700 outlets when it recently filed for Chapter 11.
Borders isn’t saying yet which stores it will close. The bookseller has already shuttered four outlets in the metro Detroit area.
WWJ Newsradio 950, WWJ and Fox 2 Business Editor Murray Feldman talked about what happened to Borders.
“They just didn’t embrace technology early enough, according to so many analysts. The online retailers got the best of their business; companies like Amazon. They tried to appeal to people who were getting their printed material online; that didn’t work,” Murray says.
Borders is hoping to emerge from bankruptcy by summer.