In Bankruptcy, Bankruptcy In The News, Blog, Chapter 11 Bankruptcy

The company, who also controls Waldenbooks, went before the U.S.Bankruptcy Court in Manhattan this week in an attempt to stave off its creditors. It was warned, however, that it may have to restructure the entire company to do so.

In Texas alone there will be seven stores closing soon. These include the location at Preston Road and Royal Lane where former President Bush once appeared for a book signing. Several more stores in Dallas and Austin will find their doors shut permanently within the year. According to local real estate agent Terry Montesi the proximity of these stores to one another was not the problem, but rather “based on profits, and sometimes a high-volume store may be a high-rent store. They may keep a store open with lower rent.”

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