North Stafford, Va. –– Borders Books and Music at Stafford Marketplace will close its doors as part of a company reorganization.
Company officials today said they will file for Chapter 11 re-organizational relief as the company looks for new ways to reinvent itself for the long term.
The company’s Stafford location, along with others Tyson’s Corner and Downtown Washington are expected to close by the end of April.
In all, Borders plans to close 30 percent of its stores nationwide.
While that may leave some without a place in North Stafford to grab a book and a cup of coffee, some say it’s a sign of a poor national economy.
“With Borders closing so many stores, this is more of a sign of bad economic times in the country and is less of a sign of business in Stafford County,” said Wendy Surman, who serves on the county’s Economic Development Board. “From what we are experiencing right now, business is doing well here and we are seeing sales tax revenue increasing.”
Borders is joined in Stafford Marketplace by other larger retailers Target, Kohls Department Store, TJ Maxx and Lowes.
