Borders Bites the Dust

The Borders bookstore at the corner of State and Canon Perdido streets will close on 1/7, leaving more than 30 employees out of work and vacating one of the most prominent storefronts in Santa Barbara. The national book retailer is citing the economy as a reason, and the Santa Barbara closure is just one of many nationwide. The company, however, did reportedly find a replacement to take over its long-term lease. The 38,000-square-foot retail was sold in April for $10 million to an affiliate of SIMA Corporation. Company spokesperson Mary Davis said Borders’ Goleta store is doing well and the company will focus its energy and efforts on beefing up sales at that location.