The Borders at the Long Beach Pike is one of many locations set to close as a result of the chain’s $1.29 billion debt and file for bankruptcy.
Some loyal customers were shocked by the news of the location closing down. The size and familiarity of the downtown Borders is something they said they will miss.
“It’s sad because I used to come to Borders to study and, with my sister, to read magazines,” said Malinda Hernandez, a Long Beach local.
Borders customers who belong to its rewards club were sent a mass e-mail with details of what will happen. The e-mail included information about the program, gift cards and online purchases.
The local store started closing up shop after the company’s choice to file a Chapter 11 bankruptcy on Feb. 16.
Chapter 11 is a United States Bankruptcy code that permits reorganization under the bankruptcy laws and is usually filed when a business fails to service its debts and pay its creditors.
Borders has started with plans to restructure its business and will be closing the store no later than April of this year.
According to the e-mail, the rewards program will still allow members to earn and redeem their in-store and online benefits. It also assured members that online services are still taking and shipping orders such as the eBook library.
A clearance sale has started at the location to purge it of merchandise. Signs indicating 20 percent to 40 percent off books, posters, CDs and other items have been placed all over the store.
Some customers, among them Cal State Long Beach students, were not fazed by the closing and said they noticed a decrease in business.
“I noticed the trend that they don’t have a lot of foot traffic and they don’t offer free parking,” senior business major Stephanie Thomas said of the inconvenience. “The only way to get free parking is to validate and Borders doesn’t do validation.”
Another customer said he recognized a trend in closures as customers’ tastes have changed with the Internet.
“First, it was music with Tower Records. Then, it was videos with Blockbusters and it was inevitable that books were next,” said Adam Webber, a longtime Borders customer.
Others look to the future and plan to purchase and read books online.
“I already read my books on my phone,” said junior math economics major David Valdivia, who visited the downtown Borders after going to the movie theater located upstairs.
The Alamitos location (Bellflower and Sterns) is set to close along with the location downtown. For more information about the proposed restricting, you can find a Chapter 11 store closure list that has been released by the Borders Group website at bordersreorganization.com.
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