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Ashland Waldenbooks to close

Posted on: Wed, 11 Nov 2009 09:46:00 EST

Symbols: BGP

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ASHLAND, Nov 11, 2009 (The Daily Independent - McClatchy-Tribune Information Services via COMTEX) --
BGP | Quote | Chart | News | PowerRating -- The Waldenbooks in the Ashland Town Center is expected to be among 200 stores closed by Borders Group Inc. at the end of 2009.

The closures will eliminate about 1,500 employees, according to The Wall Street Journal, leaving Borders with roughly 130 mall-based locations. Borders Group is the nation's second-largest bookstore chain.

General Manager Merri Hurn said mall officials were notified of the plan to close Waldenbooks on Monday morning.

"We are actively looking for someone that will replace Waldenbooks and fill that need in this market," Hurn said.

The mall manager said the decision to close the Ashland location is not a reflection of low demand for books, magazines and other specialty products, explaining local customers had previously expressed strong demand for an even larger store than the existing Waldenbooks.

A statement released by a Borders spokesman indicated the mall stores scheduled for closure will be fully stocked for holiday shoppers and should begin clearance sales in mid-December.

An employee of the Ashland Waldenbooks declined comment about the corporate decision to close the store, but made a point of saying the Ashland store will conduct a book drive to help build a new library for victims of domestic violence at Safe Harbor. The book drive begins Saturday will continue through the end of the year, the Waldenbooks employee said.

"We are saddened by the loss of any business, regardless of its location, and realize the impact on our community," said Chrissy Dillow, general manager of Kyova Tri-State Mall & Lifestyle Center.

"As a lifestyle mall we do see the benefit of offering a bookstore at Kyova Tri-State Mall & Lifestyle Center but are not in serious talks with any potential bookstores at this time."

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