Borders Closing 6 Massachusetts Stores

BOSTON (CBS/AP) – Borders is closing 200 of its book stores across the country, including six in Massachusetts.

Branches in Boston, Burlington, Holyoke, Hyannis, Peabody and Wareham will be shut down as part of the company’s bankruptcy filing.

Borders, which has been in business for 40 years, plans to close about 200 of its 642 stores over the next few weeks.

All of the stores closed will be superstores, Borders spokeswoman Mary Davis said.

The company also operates smaller Waldenbooks and Borders Express stores.

Clearance sales could begin as early as this weekend, according to documents filed with the U.S. Bankruptcy Court in New York Wednesday.

Borders said it is losing about $2 million a day at the stores it plans to close.

It has been a long fall for the Ann Arbor, Mich., company, which 15 years ago appeared to be the future of bookselling.

Big-box bookstores have struggled as competition has become increasingly tough as books become available in more locations, from Costco to Walmart, online sales grow and electronic books gain in popularity.

Borders also suffered from a series of errors: failing to catch onto the growing importance of the Web and electronic books, not reacting quickly enough to declining music and DVD sales, and hiring four CEOs in 5 years without book-selling experience.

(TM and © Copyright 2010 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2010 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

Comments

One Comment

  1. Jobless Bookseller says:

    It’s actually 7 if you include the Chestnut Hill store that just closed at the end of January.

  2. Chris says:

    Go look for a job these days and what stands in your way is ‘relevant experience.’ You need to usually have experience from ‘within the industry.’ Yet here was Borders, hiring four CEOs in five years…none of whom had ‘relevant experience’ from the book-selling industry.

  3. Sammied says:

    How sad for us readers of the paper book kind.. Sounds like the superstore in Boston is closing, that ts terrible for the city. Leaves another ‘building gap’ in the heart of the city.

  4. David says:

    I guess we are all into this Kindle stuff, and can get books for cheap. The Wal-Martization of America. I won’t go that route. Nothing beats a real book, with a cappucino to boot. Try getting that from Kindle.

  5. RONALD A ROY says:

    THE WAREHAM STIORE IS BRANDNEW
    THE PEOPLE THERE ARE VERY NICE AND EXTREMELY COOPERATIVE
    I TRAVEL FROM FALL RIVER JUST TO GO THERE BECAUSE OF THE
    SERVICE
    MAYBE BARNES AND NOBLE WILL GET MORE BUSINESS FROM ME WITH
    THE WAREHAM CLOSING

  6. Ron says:

    Wait, does that mean the Downtown Crossing one is going to be closed? That was the good one. When I bought my Kobo from them a month ago, I tried to get it at the Back Bay store and found the employees useless. You couldn’t purchase one unless you went to that part of the store, where there were NO employees except for the two wandering back and forth ignoring customers and chatting. I got fed up with trying to get help for over 20 minutes and went to the Downtown store. Got my device in less than 5 minutes. And I’m NOT ordering online again. It’s not Borders on that one, though, it’s the Allston Post Office failing to deliver a package that they’ve had for over a week. I’m not buying books and DVDs for postal workers to steal.

  7. Carol Joyce says:

    The downtown crossing one? I live in there!!!!
    What about the one at the old Lechmere Mall—Cambridge?

  8. bette lupo says:

    I am sorry to see so many Borders closing–thank heavens for the new one in Dedham. It is somewhat inconvenient but close enough to make a special trip if I am buying a few books (who only buys one?) I really don’t like B & N, they never have new books, their help is less than helpful and they are a snobby bunch!!! I read everything but Sci Fi but mostly buy romance–considering it is about 60% of the market, I am offended when they look at me like I smell bad and tell me that isn’t in yet!!! I am just old fashioned enough to want BOOKS not an e-reader,yet.

  9. Stan Mart says:

    I beg to differ on Chris’ experience comment. Passion and drive is what is needed to succeed in this world, with new ventures and business models popping up that are competing with the old.

    Case in point: People’s United. Look at their stock and you can see many other banks have been performing better with them in terms of loan, deposit growth, stock price, etc. The CEO has a boatload of experience, but the thing is they have the wrong strategy for 2011. If this was 1991, then they would be doing well.

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