Borders CEO Mike Edwards yesterday emailed Rewards Plus members with a fond farewell, a glance back at the past, and several aspects of the liquidation that customers should know.
Edwards promised the chain would honor gift cards through September, the final closing date. In addition, the chain will accept Borders Bucks through July 31 and all Rewards Plus discounts are good through Aug. 5.
Gift cards may be used in stores or at Borders.com. If you don't anticipate using your card before September, you can sell them through Gift Card Granny.
Borders was founded in 1971 by a pair of brothers studying at Ann Arbor's University of Michigan. Kmart purchased the chain in 1992 but experienced difficulties with the book division. The last time Borders made a profit was 2006 and its yearly income has dipped by $1 billion in the last four years.