[quote name='dmaul1114']Hmm, doesn't seem to be a full list. The one on Peachtree St in Atlanta (Brookwood Place shopping center) doesn't seem to be listed and they have going out of business sale signs all over the place.
Weird..checked the AJC newspaper website, and that one isn't listed as closing there either. Maybe it was just going out of business on it's own rather than a forced closing from the bankruptcy since the signs have been up for a while.[/QUOTE]
I believe this list is only new closings, and those stores wouldn't have started liquidating yet. They'll probably start sometime around this weekend. Any store that was already in the process of liquidating/closing prior to now probably isn't on the list.
[quote name='shrike4242']I'd bet that they'll probably ship the inventory back to other stores and back to Borders.com rather than clearance it out.[/QUOTE]
It will likely depend on whether Borders handles the liquidation themselves, or hands the locations over to a liquidation company.
If they handle it themselves, I would expect they'll probably do what FYE did when they closed a bunch of stores about a year ago. They "clearanced" things somewhat, marking them down by mostly around 30% or so (some of the items that they really just wanted to be rid of went lower, but many of the more popular items didn't make it any further than that). Whatever they couldn't sell at that point got shipped off to other stores, to rot on their shelves instead (because really, if people weren't buying it at 30% off at one store, what makes them think they're going to buy it at full price at another?).
If a liquidation company does it, they'll probably clear everything out until it's gone. On the positive side, they won't be able to jack the prices up to start the way they tend to when liquidating other stores, since everything is pretty much full price already.
I'll just throw this out there again, even though I got called "alarmist" in another thread for saying it, but if you've got any Borders gift cards sitting around, use them now. Two reasons:
1. Obviously, if you're in an area where all of your local stores are closing, you probably won't have easy access to a store once they're gone. Also, many stores stop accepting gift cards in locations where they're liquidating. You might want to call them to find out one way or the other what they'll be doing (though they might not even know yet), but the safest thing to do would be to use them before the liquidation starts (although obviously if you can wait for it, you'll benefit from doing so).
2. Even if your stores are still going to be around, though -- As part of their bankruptcy plan, Borders may be told that they're not allowed to honor gift cards until and unless their other debts are paid off. As far as the bankruptcy court is concerned, gift cards are just another debt among many, and other debts may be given priority (given that other creditors are owed large sums of money, while most individual gift card holders are only owed relatively small amounts). It's not certain that this will be the case (it will depend upon the plan they settle on), but it is a real possibility, and if and when it happens there will be no warning. If you're left sitting on a gift card when that happens, you'll be out of luck.
ing hell. The Freehold, NJ store is closing. The East Brunswick, NJ one closed three years ago, and it pissed me off so much. I used to go there all the time. Then I started going to the Freehold one but not as much because it's much farther away. Now all I've got left is shitass Barnes and Noble. This sucks.
