Borders will close its San Francisco South Beach store on October 16th. The bookstore occupies the ground floor of a condominium complex, and a Borders spokesperson explained that the branch did not meet “financial objectives.”
The San Francisco Examiner writes: “Borders is the highest-profile business to leave the area, although there are other empty storefronts below The Beacon condominiums. Some worried that closures near AT&T Park could spiral into a trend, although the nearby Safeway appears to be doing brisk business.”
Earlier this month, the bookseller laid-off 100 employees at a Tennessee distribution facility and cut an unknown number of people at the Ann Arbor headquarters. Rival bookseller Barnes & Noble announced yesterday it will close a store near New York City’s Lincoln Center.