Cranston Borders not closing thanks to new leaseMarch 18th, 2011 at 2:06 pm by Ted Nesi under General Talk, On the Main Site
Borders has granted a reprieve to its Cranston store less than 24 hours after placing it on the list of locations the bankrupt bookseller planned to close, WPRI.com confirmed earlier today.
“The landlord came back to us and was willing to negotiate some more, and we made the decision this morning,” Borders spokeswoman Roslyn Thompson told me in a short phone interview a few minutes ago.
She also said Borders employees at Garden City can rest easy. “Cranston will not go back on the list,” she said.
As for the other local Borders locations, Thompson made it sound like they didn’t have too much to fear now that they’ve survived two rounds of cuts.
“We’re continuing to work with our landlords, but we don’t anticipate a lot more [closings] coming out – certainly not in a bunch like this,” she said, referring to the 28 stores added to the closure last Thursday. The determining factor will continue to be whether landlords give the company breaks on its current lease agreements, she said.
Borders hopes to be out of bankruptcy before the holiday shopping season, Thompson added.