Another Casualty of the Retail Collapse: Borders to Close 200 Waldenbooks Locations

Borders(BGP) is the second-largest bookstore chain in the nation. A few years ago the company purchased Waldenbooks. Since that purchase Borders has struggled to keep its business profitable in a rapidly deteriorating economy.

Borders’ revenue loss over the last two years has resulted in a dramatic drop in the company’s share price. The stock currently trades for around $2.00 a share, a far cry from its $13.00 share price just two years ago.

Because of the company’s ailing financial condition they will close nearly two-thirds of the remaining Waldenbooks locations. The closings will be completed by January and cost about 1,500 employees to lose their jobs.