Hope still breathes

According to The Wall Street Journal:

“Wednesday’s bankruptcy filing by Borders Group Inc. means more empty space for shopping center owners already struggling with retail vacancies.

Borders said Wednesday that it plans to shut about a third of its 642 stores, with the largest number of closings in California, Florida, Illinois and Texas. It had about $287 million in total rental expenses last year. Lengthy and expensive leases have put financial stress on the Ann Arbor, Mich., company as it contended with rising competition from Internet booksellers such as Apple Inc. and Amazon.com Inc.

The 4.9 million square feet of store closings will be especially painful …”

Luckily for us Puerto Ricans living in a 100 x 35 miles island, one of our three current Borders stores (Plaza las Américas) will remain open. You may view the Borders Stores Closing list here.


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