Final Chapter Closes on Borders

After significant talks, deadline extensions and hope, Borders is finally saying goodbye to a long history in the bookstore business.

The company announced to its investors on Monday, July, 18, that it will sell their remaining assets to Hilco and Gordon Brothers pending court approval.

The Snellville store will be among the remaining Georgia locations closing for good. Mary Davis, spokeswoman for Borders, said Tuesday morning that she did not have a specific closure date for the Snellville location.

Liquidation is expected to commence for some stores as soon as Friday, July 22, with a phased rollout to conclude by the end of September.

In late June, the store while the company tried working out another outcome.

"Following the best efforts of all parties, we are saddened by this development," said Borders Group President Mike Edwards in a press release to investors.

"We were all working hard towards a different outcome, but the headwinds we have been facing for quite some time, including the rapidly changing book industry, eReader revolution, and turbulent economy, have brought us to where we are now," he added.

Liquidation is expected to commence for some stores as soon as Friday, July 22, with a phased rollout to conclude by the end of September.

Borders currently operates 399 stores and employs approximately 10,700 people.

When Snellville Patch learns of the official closing date for the area location, we will let readers know. It could be as early as later this week that the store learns of its final date.