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Sad News from the Web: Borders Going Belly Up

Borders' 400 stores will be liquidated, a variety of news websites are reporting today. Not certain yet when the Geneva store might close.

We'd like to say it ain't so, but it looks like all the local Borders bookstores—including the one on Randall Road in Geneva—are going belly up.

This is how the Web works: The Huffington Post is reporting that Reuters is reporting that Borders is canceling an auction and will sell to liquidators, which means that its 400 stores will close and 11,000 employees will be out of work.

If there is any hope of salvaging any of the stores, it comes from the Reuters story, which says "a small number of stores" could be sold to retailer "Books-A-Million."

The whole thing is sad for book-lovers and for the local economy.

The St. Charles Borders closed its doors back in March, causing more than a little local angst and interesting from Jeff Ward and .

Now, the  Books & Music, 1660 S. Randall Road, is on the chopping block. 

Patch will follow up with a local story. In the meantime, here are links to stories from The Chicago Tribune and Chicago Sun-Times.

Rudy July 19, 2011 at 12:14 AM
Sad to see yet that is capitalism stay up with the current trends or perish in their wake! Rudy O.
Denise Linke July 19, 2011 at 04:09 PM
When I saw the Web reports yesterday, I went to the Geneva Borders and used up my Rewards dollars while I still could. The staff member who rang up my order said the company had made no in-house announcements about what will happen next, and that the remaining employees are "taking it day by day". It's a pity to lose another "brick and mortar" bookstore to the growth in online book shopping. Let's hope Barnes & Noble doesn't fall, too!

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