Borders Group Inc. filed for bankruptcy Wednesday, announcing it would close nearly one-third of its 642 stores, including two in the District.
Here is the store-closing list for the Washington region:
- 18th and L Street, Washington
- Wisconsin Ave., Friendship Heights, Washington
- Leesburg Pike, Vienna
- Stafford Market Place, Stafford
- Mitchellville Road, Bowie
- Capital Centre Blvd., Largo
- White Flint mall, Kensington
The Ann Arbor, Mich., company listed debt of $1.29 billion and assets of $1.28 billion at the end of 2010 in its bankruptcy filing. The company said it would close about 200 stores it has identified as underperforming.
Analysts say Borders’ demise was driven by its late entry into the e-book market and failed to compete with the likes of Amazon.com. Rival and leading bookseller Barnes & Noble Inc. stands to gain significantly in the aftermath of the filing, they said.
