Borders Files for Bankruptcy, Will Continue to Sell eBooks
Yesterday Borders filed for Chapter 11 bankruptcy protection in a final attempt to save the company.
As part of the restructuring process, 30 percent of Borders retail stores will be closed, which equates to about 200 stores nationwide.
Borders will remain open for business, their rewards programs will continue to remain in effect, and the online store, including the ebook store powered by Kobo, will continue to operate as normal.
Even if Borders ultimately doesn’t come out of this, their ebooks and ebook store would essentially continue through Kobo, a completely independent company from Borders, so either way ebooks purchased in the past or future from Borders are safe—you don’t have to worry about them disappearing if Borders goes under, which we all hope doesn’t happen.
With all the retail stores closing down, clearance sales will probably start showing up really soon. Here’s a list via Publishers Weekly of all the Borders stores that are expected to close. There’s a possibility that as many as 75 more stores may be closed too.