A giant "Going Out Of Business!" sale has begun at the 399 remaining Borders and Waldenbooks stores after the company was unable to find a buyer and was forced to shut operations. Discounts of up to 40 percent are being offered, although not on Borders.com and not at all airport locations.
Liquidation sales typically last eight to ten weeks and discounts usually get steeper later in the process, although merchandise is scarcer.
Borders gift cards will be valid throughout the sale. "Borders Bucks," the chain's reward for frequent shoppers, expire July 31.
Store fixtures, furnishings and equipment, including shelving and, in some cases, cafe equipment, will also be sold.
Some bookstores may get a new lease on life. Rival bookseller Books-A-Million has proposed buying 30 locations to coninue operating them as bookstores. The locations are scattered across the country, with Pennsylvania home to eight of the 30 outlets, according to The Associated Press.