Borders will be closing yet another store in Colorado. This will be the seventh store that has closed in Colorado, since Borders announced its bankruptcy in February. In fact, the Park Meadows mall will be one of 51 stores across the United States that could be closing this summer. Borders claim that they are in the process of negotiating in order to prevent many of their stores from closing. In February, Borders filed for a Chapter 11 bankruptcy, and they have until the end of June to secure the 51 stores in question or they will be forced to close them.
Borders plans to use this bankruptcy as a wake-up call and reorganize the stores that they have left. In order for the company to regain its success they had to close 200 stores immediately. Borders had to make this business move in order to prevent all of their 642 stores from closing. Luckily, many companies do actually bounce back after filing a Chapter 11 bankruptcy, and Borders hopes to be one of them. Once Borders is able to rebuild the stores they have left they will be able to expand their company once again.
If you or a loved one is thinking of filing for bankruptcy, it is important to consult a Parker bankruptcy lawyer. Parker bankruptcy attorney, Brian Daniel can help you and your family through this difficult time and have years of experience dealing with bankruptcy cases. For your free consultation please contact Brian Daniel’s office at 303-951-0233.