Business & Tech
Commack Borders To Close
Store among two LI locations to shut its doors as part of Chapter 11 Bankruptcy agreement.
's Commack location will shut its doors, according to the provisions of the company's Chapter 11 Bankruptcy filing.
The filing, which was placed Wednesday morning in New York Bankruptcy Court's Southern District, will protect the company from creditors while it restructures. As part of the plan, the chain will close 200 of its 642 stores, including the location and Westbury store on Long Island.
"Borders Group does not have the capital resources it needs to be a viable competitor and which are essential for it to move forward with its business strategy," Borders president Mike Edwards said in a statement.
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Customers can still redeem coupons and gift certificates at Borders.com or in stores.
A call placed to Borders Wednesday afternoon was not immediately returned.
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It is not yet clear when the store will officially close or whether employees will be placed at other long Island locations.
This announcement marks the second major business closing in Commack in as many days, as news broke Tuesday that would be in the coming months.
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