, the bookstore chain with two locations in Waterford, has announced today it is going out of business and will close all of its stores.
, and searched for investors to buy the company, according to the Wall Street Journal. None were found, and the company will close all of its stores by the end of September, according to the Journal.
The good news is the store will have going-out-of-business sales starting as soon as Friday, according to the Journal. Overall, the company has 11,000 employees.
Borders has since released this statement.
Patrons inside the Waterford Commons’ Borders were shocked to hear the news. There is no other place in the area to buy new books, Montville resident Charlotte Pietras said.
“It’s so surprising to me,” Pietras said. “This is the once place in the area like this.”
Dan Wilson, who said he bought 12 books this year alone from Borders, didn’t even know how to react. After hearing the news, he sat dumbfounded, at a loss of words.
“Wow,” Wilson said, a Norwich resident, after finally regaining his composure. “I’m speechless.”
The most shocking part is the store is always crowded, Pietras said.
“Every time I come in here it’s packed,” she said. “Even during school time I see students here with their books, getting a coffee and on their computer. This is really surprising.”
Patch asked a Borders employee for comment. The employee refused comment, said nothing was verified and asked Patch to leave the store to not “start a panic.”
Along with the Borders at Waterford Commons, there is a smaller . According to news reports, both will close by September.