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Update: This story has changed. The store will not close.
Another Borders bookstore in Louisville is closing as the chain reorganizes its finances under Chapter 11.
Earlier, Borders planned to close two of the four Louisville stores—one on 4th Street Live and another on South Hurstborne. Now, the Shelbyville Road Plaza store is closing (via), leaving one remaining Borders in Louisville, on Bardstown Road.
As Borders goes through Chapter 11 and begins closing stores, various news outlets have encouraged anyone holding gift cards for the bookseller to spend their money now. Borders is honoring gift cards, but in the past, other companies have stopped accepting them as bankruptcy drags on.
Two of the four Borders stores in Louisville are closing. WFPL checked in with local independent bookseller Carmichael’s for a reaction to the news earlier this week. Manager Kelly Estep says the closures are a blow to book industry as a whole, and while sales at Carmichael’s have been steady, it’s not clear what effect Borders’s bankruptcy may have on smaller shops.
One possible effect, though, is an increase in Borders gift cards being redeemed at Carmichael’s. As Consuming Louisville reports, Carmichael’s has and will continue to accept gift cards from Borders and Barnes and Noble.