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Tue July 19, 2011
News roundup: Borders to go out of business
Borders Group Inc., the Ann Arbor-based bookstore chain, announced yesterday that it is closing after failing to find a buyer. Some stores will close as early as Friday. The liquidation of Borders is making headlines across the state and around the country:
- NPR.org: Mich. book chain Borders closing after 40 years
- The New York Times: Calling off auction, Borders to liquidate
- AnnArbor.com: 10,700 jobs lost, 400 in Ann Arbor
- Detroit Free Press: Borders to shut down for good after deal collapses
- Detroit News: Final chapter for Borders; 10,700 workers to lose jobs
Meanwhile, Michigan Governor Rick Snyder's office says the closing of Borders is more a reflection of publishing industry problems than a statement about Michigan's business climate, the Associated Press reports. From the AP:
His office says the fall of Borders marks the end of an important piece of Michigan history. Snyder is a former Ann Arbor businessman who was elected as a Republican in November.
Spokeswoman Geralyn Lasher says the Snyder administration will "want to look closely from the jobs perspective of people in the state."