Borders bookstores close final chapter
- Alana Kansaku-sarmiento
- The Times - News
All 10 Oregon stores to go into liquidation
After 40 years of business, Borders bookstore announced Monday the pending closure of its entire company, leaving 10,700 employees out of work at 399 locations. Sixty of those employees are located at its Bridgeport Village location.
Borders employees are not able to comment on the matter, and a detailed timeline on the company's liquidation is not yet available at the moment according to a representative at the Bridgeport store Tuesday.
According to Bridgeport Village Property Manager Fred Bruning, this could mean one of several scenarios for Bridgeport Village.
'We don't have control of the property at this point because the lease is still in bankruptcy, but there are close to 12 potential tenants that are interested,' he said.
Possible tenants are seeking to utilize the space for apparel sales, yoga and even a comedy club, Bruning said. CenterCal Properties, the owner of the shopping center, will decide whether to lease the entire space to one business or split it up between two or three smaller tenants.
'It's still possible that a tenant might assume the lease directly. We'll probably know that within a month or two,' Bruning said.
Though a specific timeline is unknown, some stores across the nation are expected to begin liquidation as early as Friday, with sales likely to last through September.
'I love bookstores, so I will miss them greatly if we don't have another bookstore take its place,' Bruning said. 'I think this is one of their best bookstores in the whole chain. But at the same time, we have some other exciting uses that will be equally strong, and Bridgeport will adapt.'
The last major closure at Bridgeport Village was in 2007 when the Wild Oats store left a vacancy until Saks Fifth Avenue off Fifth took its place in September 2010.