Tuesday, December 15, 2009

Response from Borders: We do not expect to have any product left from closing the stores

Nicole McClure (Topeka High) wrote on December 15, 2009 at 9:06pm:

I received this email:

Ms. McClure --

Thank you for writing. I want to assure you (and your students) that contrary to what has been reported on Facebook and elsewhere, we will not be disposing of books as a result of the Waldenbooks store closure process. Our company has retained an outside firm that specializes in conducting store closing/clearance sales. This firm is highly successful at selling through virtually all inventory.

For all books that cannot be sold elsewhere in our chain or returned to the publishers for credit, the company will engage in a process where product is strategically merchandised and priced for sale. If product is not selling quickly at lower volume stores, it will be shipped to higher volume stores where demand is higher and it will be sold. Inventory is continually consolidated throughout the stores that are closing and the stores are re-merchandised to continue to attract buyers. So, the fact is, we do not expect to have any product left from closing the stores. However, please know that if there is a small amount of product left over after these other measures I just explained have been exhausted, we will hold back on disposing of that product until an existing team we have on this issue is reconvened and this issue is fully examined.

Beyond the approximately 200 Waldenbooks stores that are closing, we have over time had programs where unsold books that were appropriate to be donated to schools, etc., have been provided to assist community organizations. We also hold several book drives during the year in all of our stores where we select specific charities to receive books on a local basis and have facilitated the donation of thousands and thousands of books. I hope this addresses your concerns.

Thank you,
Mary Davis
Manager, Corporate Affairs for Borders Group

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