Newspaper article THE JOURNAL RECORD

Borders, Waldenbooks Stores Closing

Newspaper article THE JOURNAL RECORD

Borders, Waldenbooks Stores Closing

Article excerpt

Troubled bookseller Borders Group Inc. is shuttering its last remaining Borders store in Oklahoma, as well as three Waldenbooks sites in Bartlesville, Shawnee and Lawton.

Borders announced this week that it would close all of its remaining 399 stores after a buyer for the company failed to emerge. The company is now moving into liquidation mode.

Melville, N.Y.-based DJM Realty has been tapped to manage the disposition of all of Borders' remaining real estate, including the 25,000-square-foot Borders store at Norman Center Court shopping center in Norman, the company's only remaining Oklahoma Borders store.

A manager at the Norman Borders declined to comment on the store closing on Tuesday. No firm closure date for any of the Oklahoma stores has been announced.

DJM has already received a fair amount of interest from a variety of retailers in taking over some of Borders' remaining 259 leased properties, said James Avallone, senior managing director for DJM.

The Borders and Waldenbooks closures will add some vacancies to Oklahoma shopping malls and retail centers, but the blow will be minimal, said Mark Inman, senior vice president of retail services for CB Richard Ellis in Oklahoma City. …

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