CBS 2:
Borders Group Inc. said late last week that it will close its Michigan Avenue store in 2010 because the Chicago site isn't meeting profit goals.
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Yes there's a lot of foot traffic in this location but on the whole Borders is too pricey and hasn't kept up with the likes of Amazon (which is quite difficult, granted). They could probably generate a whole lot more revenue by doubling the size of that 2nd floor cafe.
This just seems nuts. This Borders is mobbed so much of the time, with long lines at the checkouts. Or maybe that's only on weekends around Christmas. Still, it seems like one of the busiest Borders. Maybe the high rent eats up too much of the profits.
Wonder what will go in there once Borders leaves? My first guess is CVS. (Barf.)
Another one, What's next... this is terrible !!!
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CBS 2 | 03/ 2/09