All Waldenbooks, Borders stores closing

2011-07-18T17:41:00Z 2011-07-19T04:59:40Z All Waldenbooks, Borders stores closingDoug Schorpp The Quad-City Times
July 18, 2011 5:41 pm  • 

Borders Group Inc. announced this afternoon that it will close its entire bookstore chain, including its store in Davenport and its Waldenbooks store at SouthPark Mall, Moline.

Kit Whan, general manager of the Borders Books Music Movies & Cafe, 4000 E. 53rd St., Davenport, said she was there 13 years ago when the store opened.

“We were the only ones out here,” she said of the development that grew around the national chain bookstore in the years since.

But after 26 years with the company, she said corporate officials told her the entire chain is shutting down for good.

“We were told today,” she said. “From what I was told, we will begin the liquidation process soon and I believe I was told it will take about 45 days for that process. That is the time it took the other bookstores.”

Borders, which helped pioneer superstores, filed for bankruptcy protection in February, sunk by crushing debt and sluggishness in adapting to a rapidly changing industry, officials said previously.

The company announced in February that about 200 of its stores would close, but Davenport was not among them.

Company spokesperson Mary Davis said in February that the company operated 488 free-standing superstores, and 200 of those closed in April. It also operated 171 speciality stores through the Waldenbooks and Borders Express stores. A Waldenbooks at SouthPark Mall also was saved in February but now will be among the entire chain closing, Whan said.

Borders’ liquidation comes five months after the company filed for Chapter 11 bankruptcy protection with hopes of shedding unprofitable stores, cutting debt and re-emerging by September as a viable company.

Instead, Borders will be sold to a team of liquidators led by Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC.

The chain was founded in 1971 by brothers Tom and Louis Borders as an 800-square-foot shop in Ann Arbor.

Copyright 2016 The Quad-City Times. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

No Comments Posted.

Add Comment
You must Login to comment.

Click here to get an account it's free and quick

Photos: What's going up?

Photos: What's going up?

See what's going up in the Quad-Cities with photos featuring new construction or remodeling of businesses and buildings. If you see new constr…

Photos: Closed for business

Photos: Closed for business

Some of the businesses that have closed in the Quad-Cities since 2014.

New use found for Q-C's former retail buildings

New use found for Q-C's former retail buildings

That large building where you once bought stuff might now be a place where you can store it.

DenHartog earns spot in Hall of Fame

DenHartog earns spot in Hall of Fame

 Thad DenHartog, managing director of Mel Foster Commercial Real Estate Services, has been selected as a member of the Midwest Commercial Real…

Lee Enterprises posts higher 1Q earnings

Lee Enterprises, Inc. reported higher earnings for the first quarter Thursday as revenues declined and the company continued its "aggressive a…

Photos: What's going up?

Photos: What's going up?

See what's going up in the Quad-Cities with photos featuring new construction, recently opened businesses or remodeling of buildings. If you s…

Iowa marketing firms combine

Laser Resources Inc. has acquired Freaky Fresh Marketing, combining the capabilities of two Iowa companies into a single company with printing…

Stanley acquires Denver engineering firm

 MUSCATINE — Stanley Consultants has acquired Hartwig and Associates, Inc., a Denver-based engineering and construction management services fi…

Lee Enterprises reports first quarter earnings

Lee Enterprises reports first quarter earnings

Lee Enterprises Inc., a major provider of local news, information and advertising in 50 markets and based in Davenport reported preliminary re…

Careers with the Largest Salary Growth Potential

Careers with the Largest Salary Growth Potential

Many young job seekers are eager to earn money, but the promise of a high starting salary shouldn't be prioritized over future earning potenti…

Auto show rolling into RiverCenter Feb. 12-14

Auto show rolling into RiverCenter Feb. 12-14

Quad-Citians can drive the winter blues away with a visit to the 22nd annual Iowa-Illinois Regional Auto Show next week.

Big Movers

New York Stock Exchange

U.S. stocks rally

U.S. stocks staged a rapid comeback in late-afternoon trading Wednesday, helped by a surge in the price of oil and a decline in the U.S. dollar.

Deere completes precision planter acquisition

Deere completes precision planter acquisition

Deere & Co. has completed its acquisition of Monosem, the European market leader in precision planters, in a move that expands the Moline-…

QCR Holdings posts record net income

QCR Holdings Inc., the parent company of Quad-City Bank & Trust, has reported record net income for its fourth quarter and year-end as its…

Proposed Davenport gas station stirs controversy

Proposed Davenport gas station stirs controversy

A proposed gas station for a blighted corner of Division and West 7th streets in Davenport has stirred controversy because the owners want to …

Recommendation would allow industrial consideration on ag land

Jobs, or the preservation of prime farm ground?

Cinnamon roll pancakes keep turning heads at RI eatery

Cinnamon roll pancakes keep turning heads at RI eatery

You won’t find the cinnamon roll pancakes on the menu at the QC Coffee and Pancake House, but they’re probably the reason you’re here. And whe…

Bar proposed next to Adler Theatre

Bar proposed next to Adler Theatre

The owner of Bowls: Urban Eats is pitching a new bar on East 3rd Street, Davenport, in space that belongs to the Adler Theatre.

Deere tallies extent of community involvement

Deere tallies extent of community involvement

Deere & Co. employees recorded more than 104,500 hours of volunteer support to community organizations around the globe last fiscal year —…