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Central Coast Borders bookstores will remain open, as company files for bankruptcy
Posted: Feb 16, 2011 9:51 AM by Bethany Tucker, KSBY News
Updated: Feb 16, 2011 10:21 AM
Central Coast Borders bookstores will remain open as Borders Group Wednesday announced it has filed for Chapter 11 bankruptcy protection.
Borders Group says it will have to close about 200 of its more than 600 stores nationwide over the next few weeks. The stores in San Luis Obispo and Goleta will remain open.
The company will receive $505 million in debtor-in-possession financing from GE Capital and others to help it reorganize.
Click here to see the complete list of stores closing around the country.
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