Borders Faces Liquidation

Borders, the second-largest bookstore chain in America, only has 400 stores still open, but the deadline for bids in an auction to keep it from liquidation passed yesterday evening with no takers. The end is near.

Everything must go.

Excluding the airports, New York City only has two stores still open, at Columbus Circle and Penn Station. The Wall Street Journal has reported a possible bid by Books-A-Million, but hopes seem generally dim. The company filed for Chapter 11 bankruptcy earlier this year.