Borders Books Closing, Stores to Liquidate Starting Today

It’s the end of an era for Borders Books.  The Ann Arbor-based bookstore chain is closing down, with many of its stores liquidating as early as today.

The liquidation, which Borders announced on Monday afternoon, means that the 10,700 people who still work for Borders will be losing their jobs.

“For decades, Borders stores have been destinations within our communities, places where people have sought knowledge, entertainment, and enlightenment and connected with others who share their passion. Everyone at Borders has helped millions of people discover new books, music, and movies, and we all take pride in the role Borders has played in our customers’ lives,” said Borders President Mike Edwards in a prepared statement. “I extend a heartfelt thanks to all of our dedicated employees and our loyal customers.”

The decision to close down comes just five months after the company filed for Chapter 11 bankruptcy with hopes of shutting down unprofitable stores, restructuring debt, and reinventing itself as a viable company.

The company, though, has continued to lose millions of dollars every month.