Borders to Close Remaining 400 Stores
The Algonquin location survived the previous round of closings in February, but now it will close with the rest of the company's locations.
Borders will close its last 400 stores and eliminate 11,000 jobs, according to the Huffington Post. The book chain will sell itself to a group of liquidators after failing to find a buyer to bring it out of bankruptcy proceedings.
In a statement, Borders President Mike Edwards said, “We were all working hard towards a different outcome, but the headwinds we have been facing for quite some time, including the rapidly changing book industry, eReader revolution and turbulent economy, have brought us to where we are now.”
The Algonquin Borders, 2216 S. Randall Road, was one of the remaining 14 locations in the Chicago area after Borders announced it was closing 30 stores in February.
Check back to Algonquin Patch to find out when the Algonquin location will close and when the liquidation sales will start.