Borders Closing Sales Start At The River

The Borders at The River in Rancho Mirage -- the closest location of the book store chain to Palm Desert -- will be closing following a bankruptcy judge's approval of a plan to sell off its assets through a group of liquidators, according to the city.

Some items at the Rancho Mirage location have already been marked down 10 to 20 percent, according to the clerk, who wished to withhold her name.

She did not know when a going out of business sale would take place.

The Rancho Mirage Borders is expected to close in early to mid September, according to Curt Watts, Rancho Mirage's economic development director.

"We'll have to wait and see how things work out,'' Watts told Patch.

No new tenant has been announced, he said.

On Thursday, Judge Martin Glenn of the U.S. Bankruptcy Court of the Southern District of New York approved Borders' plan to appoint liquidators to sell off its assets. That effort will be led by Hilco Merchant Resources and Gordon Brothers Group.

Borders filed for bankruptcy protection in February.