Another Borders is closing

The Thousand Oaks location is finishing up its weeks-long fire sale and will be gone by the end of the week. It's among a scattering of stores that the bookstore chain is shutting down due to financial problems (the Westwood location is another). Borders does have stores in Simi Valley and Oxnard (here's the Ventura County Star story). Meanwhile, the WSJ reports that one of the chain's major distributors is temporarily halting shipments in response to the bookseller's decision to postpone payments to vendors. From PB:

According to sources, a contingent of Borders executives will be in New York to discuss a new refinancing plan that includes new money from a new bank. However the new financing comes with a new set of demands, according to the source, which will include publishers taking a note in exchange for the missed payment from Borders as well as a call for a bigger financial commitment to Border's debt service from Bennett Lebow, the retail chain's largest shareholder. Nevertheless, publishers appear willing to make a deal, although one house told PW, "it would have been nice if they told us they had a plan before they cut us off."