Airport Borders store on bankrupt chain's hit list

Back to TopCommentsE-mailPrintBookmark and Share

Indianapolis International Airport officials could know by next week whether the Borders bookstore inside the terminal will survive a third round of store closures tied to the chain’s Chapter 11 bankruptcy proceedings.

The Ann Arbor, Mich.-based company closed three central Indiana locations as part of the reorganization following its Feb. 16 filing. In February and March, it targeted more than 200 “underperforming” stores for closure—about 30 percent of its business.

This month, the company identified another 51 stores it may be forced to liquidate to meet terms of an agreement with its lenders, including the Indianapolis airport location. Many of the stores on the list are among the most profitable in Borders’ portfolio or have the most affordable rent, the company said in a June 9 U.S. Bankruptcy Court filing.

“The liquidation of these stores may not maximize their value for the benefit of creditors and will result in a significant loss of jobs,” the petition said.  

Borders Group Inc. said it is still negotiating to extend the deadline, but without an agreement would have to begin store-closing sales by June 22 to avoid default on the terms of its credit agreement.

Jerry Wise, the airport’s treasurer and retail director, said there is high demand for the space currently occupied by Borders, leaving the airport with options if the store closes.

A different brand of bookstore is one possibility, he said, but the retail space also could be used for another purpose. Still, Wise said bookstores tend to be very successful at airports. Indeed, Indianapolis International has seven such shops.

“Customers can still fill that need” if Borders leaves, he said.

Borders already closed stores in downtown Indianapolis, at the Shops at River Crossing near the Fashion Mall and in Carmel. It also has locations in Castleton, Greenwood and Noblesville.



  • no more borders
    Just today I unsubscribed from the many emails notices I receive from borders. Then they asked me to complete a survey. They wanted to know why I don't want the emails, then why I don't expect to shop there. I had to check "other" and specify "you closed the store." Could they be surprised?

Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.