News Article

Chicago, IL – February 17, 2011 --- Under authority of the U.S. Bankruptcy Court, store closing sales will begin on Saturday, February 19^th at 200 Borders book stores in 35 states and Puerto Rico. Over $350 million of inventory including books, magazines, music and movie media, calendars, posters and more will be liquidated. 

 

Discounts from 20% to 40% with limited exceptions are offered on all merchandise at every closing location. Consumers will benefit from very significant savings on the entire stock of books in every category, including new releases, best sellers, text books, rare and collectible books and children’s books. There are also substantial price reductions on, thousands of music CDs and video DVDs, calendars, posters, puzzles and arts and crafts items.

 

Borders Rewards programs, including Borders Rewards Plus, remain in effect. Customers can continue to earn and redeem their Rewards in all stores and on Borders.com.  Gift cards will also be honored as usual.

 

The liquidation of inventory and store fixtures is being managed by a joint venture composed of Hilco Merchant Resources, LLC, Gordon Brothers Group, SB Capital Group, LLC, and Tiger Capital Group.  A spokesperson for the joint venture said, “This is a tremendous opportunity for consumers to take advantage of truly compelling discounts on a huge selection of literature, entertainment media and much more.  We anticipate that today’s value conscious consumer will respond very positively to these outstanding savings.  We expect this will be a short sale.”