If you haven’t heard already, Borders is officially closing its doors. Borders filed bankruptcy in February and closed over 200 stores. They even launched a new “touch” version of their not-so-popular Kobo digital reader in May. However, their “plan to be purchased by private-equity company Najafi Cos. fell apart last week amid criticism from the company’s creditors. (CBS MoneyWatch)” Officially, the remaining 399 Borders stores will be closing, but 35 locations could remain open as Books-a-Million stores. According to Reuters, “Douglas Markham, Books-A-Million’s chief administrative officer, declined to comment on Friday,” on the liquidation sales (getting rid of inventory that, ideally, a buyer would want to keep and sell at retail after the purchase). I’m not holding my breath on that deal.

Will Borders still honor gift cards?
Yes. If you didn’t use up your gift cards and Border’s Reward points back in February, now is the time to do it. Do not wait. The LA Times had a good piece aboutthe floods of customers headed to stores now. From Mike Edwards, Borders CEO email to customers this morning: “Gift cards will be honored during the liquidation sales, and Borders Rewards Plus members will continue to enjoy their Borders Rewards Plus discounts through August 5. Further, all Borders Bucks will be honored until they expire on July 31.”

What will happen to my Kobo or Borders eBooks?
Kobo is being very clear that they are a privately-held company. “While Borders is one of the early investors in Kobo, it holds only a minority stake in Kobo, approximately 11 percent. The Borders shares are subject to the terms of the Kobo shareholders’ agreement which, among other things, restricts their transfer or disposition. (Kobo Comments on Borders liquidation)” Basically, Borders sold Kobo products in their stores, but the closing will not impact your ability to use a Kobo digital reader, nor buy books for it. Border’s customers eBook account have been in transition to Kobo, but if yours hasn’t been switched yet, go to kobo.to/bmigrate to switch your library over. If you use a Borders App, go to Kobo.com and you can download a free app for smartphones, tablets, or computers.
Find a Waldenbooks or Borders store near you to take advantage of their liquidation sales before they’re gone. Everything is up for grabs, according to Gordon Brothers Group, who is heading up the liquidation. This means furniture, toasters, bookshelves, refrigerators, dish washer/sanitizers, store PA systems…everything. Borders.com is excluded from liquidation sales.

If you have any questions I didn’t answer here, post in the comments and I’ll find an answer for you.