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.READ MORE: Philadelphia Allowing Fans To Return To Sporting Events As City Relaxes COVID-19 Restrictions
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.READ MORE: 17-Year-Old Arrested In Fatal Shooting Of Forrest Keys, University Of Arizona Student From Huntingdon Valley
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.MORE NEWS: Camden County Man, Richard Tobin, Admits Coordinating Neo-Nazi Plot To Deface Synagogues
Reported by Paul Kurtz, KYW Newsradio