The Register-Herald, Beckley, West Virginia

Money

November 6, 2009

Borders to close stores, including ones in Bluefield, Morgantown

Courtney D. Clark

The second-largest bookstore chain in the United States announced plans Thursday to close hundreds of its small-format stores.

Borders Group will close approximately 200 Waldenbooks and Borders Express stores, including stores at malls in Bluefield and Morgantown.

Additionally, the company is going to cut around 1,500 jobs to make the chain more profitable.

“About 75 percent of those jobs will be part-time,” Mary Davis, public relations manager for Borders Group, said Friday. “That number might fluctuate somewhat up or down as we finalize details, but these stores will be closed in January.”

The company said the closing will not affect any Borders airport locations or seasonal mall kiosks, and the store at Crossroads Mall in Beckley will not be closing.

“Our goal with this rightsizing is to emerge with a much smaller, more profitable Waldenbooks mall business that complements our core Borders superstore business,” Davis said. “Taking that a little farther, it really allows us to reduce the amount of stores with operating losses and overall rent expense.”

According to Davis, the closings will leave around 130 stores in Waldenbooks Specialty Retail Segment still in business. The segment includes Waldenbooks, Borders Express stores, as well as Borders Outlet locations.

Borders said it expects a smaller Waldenbooks segment to be profitable.

“We want to move forward with a viable mall business that is a good complement to our superstore business,” Davis said. “We think it’s a good overall strategy for our total business.”

According to the company, previously purchased gift cards will be valid as long as the stores remain open, and at any Borders, Waldenbooks or www.borders.com.

— E-mail: cclark@register-herald.com

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