(March 10, 2011) — Borders customers in Glendale lined up last month not only for the store’s President’s Day Sale, but also for the closing sale. “Everything must go” and “store closing” banners ran along windows and walls behind cashiers as discount signs hung on bookshelves to inform people of the 20%–40% markdowns. The Borders on Brand is just one of the 200 “underperforming” branches that will be closing by the end of April, according to CNN Money. The Borders Group plans on reducing staff sizes in the next few months as they undergo reorganization under Chapter 11 bankruptcy. CNN Money notes that Borders’ file for bankruptcy was no surprise to Wall Street. Junior Gayaneh Dermarkarian, who half-expected the closure, thinks the shutting down of the branch in Glendale may have a connection to Barnes & Noble being nearby. “I think that people are usually more attracted to or interested in the Americana, which is where the Barnes & Noble is. Everyone goes to buy books there instead.” Borders Group has said that it “does not have the capital resources it needs to be a viable competitor,” according to CNN Money. “This decisive action will give Borders the opportunity to achieve a proper infusion of capital in order to have the opportunity to have the time to reorganize in order to reposition itself to be a successful business for the long term,” Borders Group president Mike Edwards said. According to CNN Money, Borders is the second-largest book retailer in the nation after Barnes & Noble, with 659 stores and almost 20,000 workers. Those who tend to favor Borders over Barnes & Noble feel as if Borders has earned its place in the city. “I feel like the store belongs on Brand. When I pass by, I always see ‘Borders Books and Music’ in big, bold letters,” sophomore Ruben Petrosyan says, “It’s like a landmark.” The Borders Reorganization site ensures customers that their stores and the website will stay running, along with their rewards programs. Borders does not expect the filing to affect the selection of books and other goods and services that Borders offers to be affected.