On July 18 Borders announced plans to close its remaining 399 stores, which employ some 10,700 employees. Stores could begin locking their doors as early as July 22. It is expected all Borders retailers will vanish by the end of September.
The Borders Columbus Circle location within the Time Warner Center has been a destination for theatre folks to share solo and cast albums, as well as meet with fans and sign books. It has not been determined when the location will officially close.
Hilco and Gordon Brothers will purchase Borders' remaining assets. A hearing is scheduled for July 21.
Borders Group president Mike Edwards cited the lagging economy, the popularity of eReaders and a rapidly changing book industry as the reason for the company's demise.
"For decades, Borders stores have been destinations within our communities, places where people have sought knowledge, entertainment, and enlightenment and connected with others who share their passion," Edwards said in a statement. "Everyone at Borders has helped millions of people discover new books, music, and movies, and we all take pride in the role Borders has played in our customers' lives. I extend a heartfelt thanks to all of our dedicated employees and our loyal customers." In addition to the Columbus Circle location, Borders currently operates a location in Penn Station, as well as at both LaGuardia and JFK Airports, and on Staten Island.
For further information visit Borders. The Columbus Circle Borders is located within the Time Warner Center at 10 Columbus Circle.