Borders Announces Closure Of Its Hollywood Store
LOS ANGELES (CBS) — Borders bookstore announces the closure of its Hollywood store.
Located at the Hollywood Marketplace retail complex on Sunset Boulevard and Vine Street, the store will close by the end of May.
When Borders filed for Chapter 11 bankruptcy February 16th, it said the closures were being made due to reduced customer spending, their ongoing discussions with publishers and other vendor related parties, as well as the company's lack of liquidity. To date, 200 closures have resulted from the company's bankruptcy filing.
At least 11 other Borders bookstores in Los Angeles County and four in Orange County have closed or will closed in connection with the bankruptcy. Stores in the following communities are expected to shut their doors by the end of April:
Cerritos
Century City
Pasadena
Pico Rivera
Rolling Hills Estates
Sherman Oaks
Valencia
Westchester
Two in Long Beach
La Habra
Orange
Tustin
Yorba Linda.
(©2011 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)
