© 2021 MICHIGAN RADIO
91.7 Ann Arbor/Detroit 91.3 Port Huron 104.1 Grand Rapids 91.1 Flint
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations

Report: Borders to leave Ann Arbor for Metro Detroit

Borderse Lorna is.jpg
Lorna Is
/
Flickr
A report in the Wall Street Journal says Borders will move its headquarters from Ann Arbor, MI to Metro Detroit

The Wall Street Journal is reporting that Borders Group Inc. will move its headquarters from Ann Arbor to the Detroit metro area. The company is currently operating under Chapter 11 bankruptcy. From the Journal:

Borders Group Inc. plans to tell publishers and landlords Wednesday it has achieved major cost savings, including more than $30 million in rent reductions, and that it will move out of its Ann Arbor, Mich., headquarters for cheaper office space in the greater Detroit metro area. Presenting its business plan to an unsecured creditors committee, predominantly made up of publishers and landlords, Borders also plans to say it has now closed about 50 superstores as part of efforts to emerge from Chapter 11 bankruptcy, according to people familiar with the matter. Altogether, Borders will close 226 by the end of next month, although a handful of additional stores could be closed, depending on negotiations with landlords, the people said.

News organizations around the state were quick to pick up the report:

Related Content