Borders Bankruptcy Hits Triangle Hard
The Triangle will be hit especially hard when Borders Books closes several of its stores.
By April – the Borders Group will close about 30-percent of what the company calls its under-performing stores. Borders’ reorganization plan was reveled yesterday when owners announced they are filing for Chapter 11 bankruptcy.
There are about a dozen Borders Books across the state. The Borders Group also includes Waldenbooks.
Most of the Triangle area stores are closing - the Apex Borders, The Cary Borders, the Borders in Chapel Hill and the Borders at Creekside Crossing in Raleigh. A fifth store is closing in Greensboro at Oakwood Plaza. The Borders in Raleigh Durham International Airport will remain open, as well as the Borders in North Raleigh on Six Forks Road.
The Borders Group blames the bankruptcy on the down economy and increased competition.