Business & Tech

Update: Borders Future Uncertain in Silver Spring

Borders is one of the few stores in downtown that you can physically walk into and choose from a wide variety of books, magazines and music.

Update: 2:50pm

Silver Spring residents can rest easy because the Borders in downtown isn't scheduled for a closure in the upcoming weeks, according to press release by Borders.

Closures are scheduled for other areas in Maryland including Bowie, Kensington and Largo.

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Update: 12:00pm

Borders Group has filed a Chapter 11 bankruptcy after the 40-year-old company continues to struggle to remain viable alongside online book companies. The bankruptcy would help with a new "strategy to reposition its business model and the Borders brand," according to a press release from Borders Group.

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Part of the restructuring will reduce staff and close about 200 stores, according to a news release by Borders.

What does this mean for downtown Silver Spring?

According to Jennifer Nettles, the property manager for downtown Silver Spring, "The ownership of downtown Silver Spring has been tracking Borders and the possibility of a bankruptcy filing for some time and has evaluated options for what to do in anticipation of this event."

Nettles also said it was too early to tell if the store is closing, but she wants to assure the community that if it does, they will choose a retail option that will "serve well the needs of the Silver Spring community."

Borders is one of the few stores in downtown that the shoppers can physically walk into and choose from a wide variety of books, magazines and music. The news of it's uncertainty is upsetting to Silver Spring resident Nancy Nickell, who appreciates the store.

"I used to always buy at indie stores, usually Olssons. But now it is gone, so I go to Borders," Nickell wrote to Patch in an e-mail. "I especially appreciate the way they have local books, such as Jerry McCoy’s books about Silver Spring."

Borders Group expects to have an update on more changes to come this afternoon.

Stay with SilverSpring.patch.com for more on this story.


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