So many customers liked to flip through some books, maybe even buying one every now and then. But Borders stores occupied 25,000 square feet on average, and it's hard to make a profit renting some of America's prime real estate at that level when people primarily enjoy looking at the only product you have to sell.
Borders bookstore property owners will join in the restructure plans and reduce rent for stores Borders plans to keep. Experts claim Borders has a poor rental plan, tying itself to store leases that range 15-20 years in poor locations.
A liquidation company that is part of the process said late Thursday that the sales will be held starting Friday at all 259 Borders superstores, 114 Borders Express and Waldenbooks, and 26 Borders airport stores.
Books-A-Million, based in Birmingham, Ala., is offering to buy the leases and assets of 30 Borders stores and keep them open. Here's a look at the locations that may stay open if the bid is approved. The two chains are still in talks.