This is not terribly unexpected but still not good news:
There will be no storybook ending for Borders. The 40-year old book seller could start liquidating its 399 remaining stores as early as Friday.
The chain, which helped pioneer the big-box bookseller concept, is seeking court approval to liquidate its stores after it failed to receive any bids that would keep it in business… Liquidation sales could start as soon as Friday if the U.S. Bankruptcy Court of the Southern District of New York approves the move at a scheduled hearing on Thursday. The company is expected to go out of business by the end of September.
It’s not good news for the obvious reason: One less place for authors to sell books — well, 399 fewer places, as that is the number of remaining Borders stores at the moment. Our jobs just got that much harder. There are other less obvious reasons as well, but the obvious one is bad enough.