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Borders will be closing its doors by the end of September, liquidating its remaining 399 stores starting as early as this week. The closure comes as the United States’ second-largest bookstore struggled and ultimately failed to find a buyer to keep the company going.
The final decision to cancel a bankruptcy-court auction scheduled for today was fueled by a general lack of interest from buyers. Since filing for bankruptcy-court protection in February, Borders has struggled to receive merchandise on advance from publishers, causing the company to further hemorrhage money.
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