The news is that 200 out of 330 outlets will close. But it's not a downsizing:
Borders CEO Ron Marshall said that “through this right-sizing, we will reduce the number of stores with operating losses, reduce our overall rent expense and lease-adjusted leverage and generate cash flow through sales and working capital reductions.”So don't be sad for the people holding the 1,500 jobs that will be eliminated. Because it's a right-sizing. The best line is this, however:
The company also said it plans to integrate the remaining Walden stores into its superstore computer system to create a single platform.When you think of the superstore computer system, imagine there are lasers.