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Borders to Close More Stores, Including Hollywood Location
More Borders bookstores will soon be closing the chapter on their retail residencies in 28 more locations, including in Los Angeles at Sunset and Vine. The Hollywood location, an anchor at the mixed-use development, will join the Glendale, Sherman Oaks, Pasadena, Valencia, and Oxnard locations in closing up shop for good in May, reports the Daily News. Currently the stores are in liquidation mode, and selling all their stock at a discount.
Borders filed for Chapter 11 bankruptcy in February. The bookseller "hopes to have a formal reorganization plan to present to its creditors by early April and aims to exit bankruptcy in August or September."
Earlier this month, we wondered if the end of Borders' big-box empire meant a triumph for the independent sellers. Thoughts?