Sales at Closing Borders Could Begin This Weekend
The 200 underperforming stores across the nation, including ones in White Flint and Friendship Heights, are expected to close by the end of April of this year.
Borders, facing near strangulation with $1 billion in debt hanging around its neck, will close 200 stores, or nearly one-third of its retail outlets nationwide. In its court filing at the U.S. Bankruptcy Court in New York, the Ann Arbor, Mich.-based chain said the stores slated for shuttering are losing an astounding $2 million a day and that massive inventory clearances will start this weekend, the three-day President Day’s holiday, when traffic in malls and at stories is traditionally high. The Friendship Heights store is one of two being shut in the District of Columbia, while the large White Flint Mall store is the only store being closed in Montgomery County and one of only three in Maryland on the closure list. The other two are in …
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