Borders Books Will Liquidate

I'm kind of sad to see them go, though like most people I hadn't bought anything there for awhile:

After a failed attempt to find buyers to stay as a going concern, bankrupt U.S. bookstore operator Borders Group Inc. said late Monday it will sell its store assets to liquidation firms Hilco and Gordon Brothers and submit the plan for bankruptcy court approval.

The bookstore operator, the second largest after Barnes & Noble Inc., operates 399 stores and employs about 10,700 employees. Liquidation is expected to begin for some stores and facilities as soon as Friday, with a phased rollout of the program to conclude by the end of September, the company said in a statement.

"Following the best efforts of all parties, we are saddened by this development," said Borders Group President Mike Edwards.

"The headwinds we have been facing for quite some time, including the rapidly changing book industry, eReader revolution, and turbulent economy, have brought us to where we are now."

My last purchase at Borders? A California road atlas for my son to take with him when he goes away to college next month. With GPS technology so prevalent now, even that purchase seems a little anachronistic.

The Mission Viejo Borders store will join the ghosts of retailers past along the I-5 freeway.  It was right next to a CompUSA and Linens and Things, both of which have been vacant for some time.  All that center needed was a Circuit City and Mervyns to make it complete.