The long decline of bookseller Borders Group is finally coming to an end. It was announced Monday, July 18th, that the chain’s remaining 400 stores will all close and nearly 11,000 employees will lose their jobs.
The sale of Borders to Najafi Companies fell through after creditors objected to part of the $435 million deal. Books-A-Million, the nation’s third-largest book retailer, may be interested in purchasing a few of the locations (30).
Borders was the second-largest bookstore chain in the U.S.