Mike Edwards, Borders President, announced that it is exploring closing 75 additional stores. Depending on the success of negotiations with landlords, the number may be closer to 20 to 25 closings. They intend to announce the details in early April. Their goal is to exit bankruptcy in August or September, just in time for the holiday selling season.
When Borders filed for bankruptcy protection on February 16th, they announced the closing of 200 stores, bringing their total down to 433 stores. Although they closed 8 superstores in Kansas and Missouri, the Kansas City Commercial Real Estate impact was minor, as only one store was selected to be closed, the Barry Road location in the Northland. Four Kansas City area Borders superstores survived the first round of closings.