Borders'
Business Operations Continue As Normal
In light of the ongoing impact of
the difficult economy of the past few years, and the rapidly
changing retailing environment for books and related products,
it is essential that Borders restructure itself to reposition
its business to be viable and successful over the long term.
To that end, we have determined
the best route to undertake the necessary reorganization of
our business is through the filing of a petition for
reorganizational relief under Chapter 11 of the Bankruptcy
Code.
Please be assured that during this reorganization period:
- Borders stores are open for business. We will continue to
provide our customers with a vast assortment of books in a
warm and relaxing environment - and we intend to build on
this. Our stores will continue to be places where families
can gather to enjoy enriching events including author
readings and signings, book clubs as well as kids storytime
and parties.
- Borders.com is operating as
usual. We
are fulfilling online orders as customers choose from among
more than two million books, music, movies as well as other
entertainment items.
- Our Borders Rewards programs, including Borders
Rewards Plus, remain in effect. Customers can
continue to earn and redeem their Rewards in stores and on Borders.com and they'll also
continue receiving coupons. As always, we are
honoring gift cards, which can be redeemed in
stores and online at Borders.com.
- Borders will continue to maintain its strong
national presence. Our nationwide
network of stores is a key foundation of the Borders brand.
Borders, however, will be closing underperforming stores
within our network over the next several weeks. Should your
local store be affected, please visit Borders.com to find another
Borders store near you, or to purchase our vast selection of
books and other merchandise on-line.
Through this process, we intend to
put in place a sound financial structure, enhance Borders'
technology to better benefit you, our customers and introduce
new and exciting products related to our book offerings - all
while providing you with great customer service