As part of its bankruptcy proceedings filed this morning, Borders has announced that it will close some 200 stores nationwide — you can see if yours will be hit in this interactive map. Chicago has been particularly stripped, with half their 430 stores set to close. According to documents, Borders has $1.29 billion in debt and $1.27 billion in assets; it hopes to boost the bottom line by closing these 200 stores which were losing $2 million a week for the company

TweetAccording to Bloomberg, Borders is inching towards bankruptcy, to the surprise of no one. They are looking to file next week and close as many as 150 stores along the way. Oof. On our own reconnaissance mission, we went to the Borders nearest us on Second Avenue to check out conditions on the ground. There [...]