Yesterday, ANN reported that Borders filed a motion to remove six stores from its list of closing locations. The company cited lease issues as the reason for the removal of the stores, which include four airport locations. In particular, the following locations have been spared from the axe:
- Logan Airport, Boston, Massachusetts
- Two stores in Detroit Airport, Michigan
- Raleigh Durham Airport, North Carolina
- Westland, Michigan
- Willimantic, Connecticut
This could turn out to be a fortunate turn of events for the ailing retailer. It certainly won’t be enough to change their fortunes – if six stores could do that, it would’ve happened by now. However, those in Borders’s position will typically take any opportunity available.
And, frankly, they can use these few bright spots. With nearly 250 stores closed this year and more slated to be downsized, the situation continues to look grim for the retailer. After five years of negative profits, the store is finally feeling the cruel realities of the free market. The corporation’s careless operations, which included clinging to Amazon for online solutions for far too long, taking large, high-interest loans, and falling behind in maintaining their brand as they tried to take market leader Barnes & Noble head-on. To date, the company has done as much damage to the manga industry as Musicland did when they entered the downward spiral.
Before Borders begins to right its course, I foresee more pain, more trouble, and closings. If the company wishes to weather this, they will need to change. Heads will need to roll, and deals will need to be made. Whether this will happen though, is an entirely different story altogether.
