AP: Borders Plans to Close All Remaining Stores

Borders plans to close all of its remaining 399 stores, according to a report from the Associated Press.

The fate of the remains unknown at this time. A store manager said Monday that she had no additional information.

The national bookstore chain filed for bankruptcy in February and announced it was closing more than 200 stores. At that time, a spokeswoman for Redmond Town Center said Borders did not plan to close its location in the shopping center.

If a U.S. bankruptcy court approves Borders' request to close its remaining stores, liquidation sales could start as soon as Friday, the AP reported.

A Borders news release cited the poor economy and industry changes as reasons for the company's struggle.

"Following the best efforts of all parties, we are saddened by this development," Borders Group President Mike Edwards stated in the release. "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."

Redmond Patch has left a request with the Redmond Town Center's corporate offices for information on the future of the Redmond location. We'll post additional details as soon as we receive them.