Brought to you by WBIW News and Network Indiana
Last updated on Wednesday, July 20, 2011
(INDIANAPOLIS, IN) - Borders is going out of business for good.
The book store chain plans to liquidate as early as Friday.
It has 399 remaining stores in Indiana and across the nation.
Among the Indiana stores closing: Castleton, Greenwood and Noblesville locations.
Indiana Financial Expert Peter Dunn blames borders woes on the "curse of the brick and mortar" model.
Dunn says borders grew too fast and had too many stores which made the model unsustainable.
The company had been struggling to climb out of bankruptcy and hadn't been able to find a buyer.
It plans to close completely by the end of September.
Borders is the nation's second-largest bookseller right behind Barnes & Noble.
Dunn says B&N has remained afloat in part because of its popular online reader, "The Nook."
Prior to Monday's announcement, Borders had already closed hundreds of stores across the nation.
It employed about 10,700 employees.
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