Per one of the associates at the Timonium location.
The liquidation sale begins today, Friday, July 22.
Seattle's Best Coffee Cafe and cafe area are closed.
All coupons are now null and void.
Borders plus members will still get their additional 10% off for the next 2 weeks (Ending, Friday, August 5.)
They are getting items in from the warehouse so they have more "product" coming in in the next few days.
One customer asked how long they expect to stay open and the associate stated that their best guess is that they have enough stock and stuff in the warehouse to keep them open through the end of August.
Re: BORDERS (book store) Liquidation starts today
My Cooking Blog
I doubt they would accept this or gift certificates at this point. Typically liquidation means that all of the inventory is now property of the creditors and all revenue goes to paying their outstanding debts- technically your merchandise credit counts as one of their debts.
The Borders website says:
"All Borders Bucks will expire on 7/31/11. All sales are final. We will accept Gift Cards for the entire sale event."
They did.
Initally Borders filed a chapter 11 bankruptcy, in which they were seeking to reorganize their debt and then find a buyer to take over the smaller company. During this time quite a few of the low performing stores were closed and the stock at those stores was liquidated.
The remaining creditors were looking for someone to come in and buy the assets and continue to run the company. Borders did have a potential buyer, but the deal feel through about 2-3 weeks ago.
From what I understand the ONLY subsequent offer was from a liquidation company. So in effect Borders was forced into a Chapter 7 (total liquidation) banckruptcy because no one else came forward to but the assets of the company.