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Borders 'Going Out of Business' Sale Begins Today

Experts warn consumers to comparison shop to ensure they get bargains.

The bookstore tried.  And the bookstore died.

The Borders "going-out-of-business" sale begins today at the Northridge Fashion Center, 9301 Tampa Ave., and 399 locations across the country.

Everything in the store is on sale at up to 40 percent off the original price, but experts warn consumers to comparison shop to ensure they get bargains. Borders Express and Waldenbooks are also closing. Borders Bucks will expire at the end of the month and gift cards will be accepted until the stores close.

Competitors may cut prices in response to the liquidation sale. Nationally, Borders' competitors include Barnes & Noble, Amazon.com and Walmart.

Borders officials said late Thursday that the bookstore would accept returns under its existing return policy. However, purchases made during the liquidation sale are final, the company said.

The Ann Arbor-based chain whose massive stores helped shut the doors of many independent mom and pop bookstores, said the liquidation would conclude by the end of September.

"Following the best efforts of all parties, we are saddened by this development," said Borders Group President Mike Edwards in a statement.

The demise of Borders after 40 years can be blamed in part on the digital age. Industry observers said the chain was unable to adapt to the rise of Internet competitors such as Amazon.com, and was late in getting into the electronic reader and digital book trend.

Birmingham, Ala.-based bookstore chain Books-A-Million said Thursday it wants to buy 30 of Borders' store leases.

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