Borders to Close Michigan Ave. Chicago Store3 Mar, 2009 By: Billy Gil
Borders will close one of its high-profile stores, on shopping thoroughfare Michigan Avenue in Chicago, in 2010 due to the store not meeting profit goals, The Associated Press reported.
Borders said it will continue to operate 19 other stores in the Chicago area. The store opened in 1995 and was more than twice the size of an average Borders store.
“In today’s economy, no retailer can afford to operate stores that do not produce the kind of results required to sustain a location, and therefore, we have no choice but to close the store in 2010,” said Steve Davis, SVP of Borders Group Operations, in a statement.