There was some hope for a while, that Borders might pull out of their dive, but then they announced on Wednesday that they are closing their doors for good. The sale starts today.

What this means for us is a 40% off and the last chance to use whatever rewards points you may have with them. Borders Plus members get extra discounts. Not sure what it means for their summer reading program, but I asume this means it’s ending so take advantage of whatever you’ve done so far.

From their corporate website:

Borders Group, Inc. has received approval from the Bankruptcy Court to conduct a Court-supervised auction under Section 363 of the U.S. Bankruptcy Code, with a “stalking horse” bid comprising an orderly sale of all the store assets of the business by a joint venture led by Hilco and Gordon Brothers if a going concern buyer is not the successful bidder.

This is sad but remember that if you buy a book at a discount you’re not taking advantage of their hard times. Rather they need to get rid of their inventory and make as much money as possible to pay off their debts.

The real tragedy is the employees losing their jobs. This is a huge company and the job market is already underwater.