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Three Waldenbooks stores in the region are slated to close in January as part of parent company Borders Group Inc.'s broader downsizing plan.
The Ann Arbor, Mich.-based bookseller has been gradually shrinking the Waldenbooks chain throughout the decade, amid competition from online booksellers. This time, it plans to shut 200 Waldenbooks and Borders Express stores and cut 1,500 jobs to make the chain smaller and more profitable. That would leave about 130 such stores still in business.
The move does not affect regular Borders stores or the company's mall kiosks, and indeed, analysts said they viewed it as a way for the company to focus more on its large stores.
Locally, the Waldenbooks at Valley Hills Mall in Hickory, Monroe Mall in Monroe and Cleveland Mall in Shelby are set to close. The location at Carolina Mall in Concord is not on the closure list. Previously purchased gift cards will be valid as long as the stores remain open, and at any Borders, Waldenbooks or Borders.com, the company said.
