Say goodbye to the Pleasanton bookstore.
As a result of the Chapter 11 filing made by Borders Group, Inc., this week, the Borders on Rosewood Drive will close its doors by the end of April along with about 200 other superstores across the country.
According to a Borders Group press release, the company “identified certain underperforming stores” for closure, which are “a reflection of economic conditions, cost structures and viability, among other factors, and not on the dedication and productivity of the workforce in these stores.”
In the company-issued press release, Borders Group President Mike Edwards said Borders Group “does not have the capital resources it needs to be a viable competitor” and that the Chapter 11 filing “will give Borders the opportunity to achieve a proper infusion of capital in order to have the opportunity to have the time to reorganize in order to reposition itself to be a successful business for the long term.”
Borders.com continues to function as usual, and Borders will continue to honor its Borders Rewards program, gift cards and other customer programs, the release states.
The closure of the Borders stores leaves a vacancy at the Metro 580 Shopping Center. Borders currently occupy a 30,000-square-foot space and employs 36 people.
Pamela Ott, economic development director for Pleasanton, said the center remains a vital shopping location that has several anchor tenants including Wal-Mart, Kohl's and Sports Chalet.
"I expect that there will be demand for the location because it is a good size space with ample parking near primary traffic thoroughfares, all of which are ingredients for success," she said.
Ott adds that the city is working with the shopping center's owner, Centro Propertiesand commercial brokers to attract a new tenant.
To learn more about the Borders reorganization, click here.