Silver Spring Borders Fate Decided This Week

The days when you can peruse the Borders bookstore or glance through your favorite magazine may be coming to an end by this September in downtown Silver Spring.

An earlier attempt to stay in business failed after the company didn't get any substantial financial bids to restructure their business, according to a report by the Washington Post. 

In February, Borders filed for a Chapter 11 Bankruptcy and closed hundreds of stores to help with a new "strategy to reposition its business model and their brand." Downtown wasn't included in these cuts.

If the scheduled bookseller is granted the approval to liquidate the remaining 399 stores, downtown Silver Spring will lose another major retail store.

A few weeks ago, Pier 1 Imports announced they were leaving, which was a huge blow to the Silver Spring community.

Patch received emails from concerned residents. One reader wrote how the closing of the store is making "lots of people devastated" and how the store is "very much needed" in downtown Silver Spring.

Borders representatives are scheduled for a Thursday hearing in the U.S. Bankruptcy Court of the Southern District of New York, to ask for permission to sell the company to Hilco Merchant Resources and Gordon Brothers Group liquidators.

If the deal is approved, liquidation of Borders could start as early as Friday.