Borders Closing Popular Center City Book Store

PHILADELPHIA (CBS) – The financially strapped Borders Bookstore chain is closing more stores across the country, including a major anchor in Center City.

Borders management has announced that it will be shuttering its store at Broad and Chestnut in late May. Borders filed for chapter 11 bankruptcy last month, suffering the effects of internet competition and a huge debt load.

No word from management yet on why they’ve targeted the Center City location, which always seems to be busy. The store is located in a retail area that includes the Capital Grille, FYE, and the Ritz Carlton.

Borders is also announcing that it will be closing its store at Airport Plaza in North Wales.  It plans to close about 200 of its 642 stores.

Reported by Paul Kurtz, KYW Newsradio

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  • Joe

    Dude this sucks. If you’re going to close the cruft, why not keep open the really nice flagship stores in major cities?!

  • Ed

    Really sorry to see this store close. I loved going there at lunch and after work. Nice people worked there too. Really a shame !!!

  • Kafi

    I am sorry to hear this. My favorite bookstore for years. I love hanging out at Borders and will miss doing that.

  • The voice of reason

    There is one two blocks away!! Not too far to walk.

  • Michael (was Anonymous at 9:51)

    Reply to Anonymous at 10:51: Is that an official answer? Because suburban stores are not interchangeable with a thriving downtown one (for years, I didn’t own a car, so getting to Wynnewood or Rosemont, let alone farther into the suburbs, was not something I could do regularly, or would be interested in doing regularly, and I’m sure that’s still true for many of their Center City customers.) But, the more I think about the Rewards Plus issue, the more serious I become: Borders was heavily promoting that program last spring and summer, and is now closing hundreds of stores. If they anticipated that store closings were coming and were just attempting to raise cash, that borders (so to speak) on fraud….

    • Still Anonymous

      Obviously when a company introduces a premium discount program with a low membership fee its trying to build capital. The long term plan was to increase customer loyalty while generating additional funds in hopes of not having to file for Chapter 11 protection. Unfortunately it wasn’t enough.

      The official answer is in the terms and conditions of the program. You have 30 days to return it. It may not be as convenient to go to a suburban store, but as I stated before the discount still works at The membership was $20 for a year and depending on when you signed up you may have received either $10 in Borders Bucks or a $100 coupon book or both. That coupled with the 10% off on your purchase that day and all subsequent purchases should have compensated you for the $20 up front. If not you still have a year from when you upgraded to reap the benefits and “turn a profit” on your investment.

  • Anonymous

    The store is closing because the rent was too high and the landlord wasn’t willing to negotiate a reduction.

    You can get a refund for Borders Rewards Plus within 30 days of purchase, otherwise its still good at the other locations staying open and online. Plus you still get an extra 10% off during the liquidation sale.

  • Ted

    It’s their own fault They outsourced their internet sales to for many years and only took it back when their sales dropped like a lead parakeet.

  • Anonymous

    No. This is not cool. Can I get a refund on the “Borders Rewards Plus” card I bought last fall?

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