Viewfinder: Crowds Turn Out for First Day of Borders Liquidation Sale

The Borders store in Birmingham was full Friday afternoon as dozens of book shoppers turned out for the .

The Ann Arbor-based bookstore chain is closing all 399 of its stores nationwide, including 26 stores in Michigan, . The store will be sold to a team of liquidators led by Hilco Merchant Resources and Gordon Brothers Retail Partners.

"This marks the end of an era and we thank our customers for their patronage over our 40-year history," Borders Group President Mike Edwards said in a statement Thursday.

"I encourage our customers to take advantage of this one-time opportunity to find exceptional discounts on their favorite books and other great merchandise. The commitment to our customers will remain a top priority throughout the going-out-of-business sale."

Price cuts ranged from 10-40 percent off Friday, with 10 percent off all books and gifts, 20 percent off music and DVDs and 40 percent off magazines and cards. Discounts will increase as the liquidation sale continues. Liquidators estimate that the stores have $700 million worth in inventory.

The parking lot off Woodward Avenue was complete gridlock Friday, with many people filling up the street parking in the surrounding streets. The line to check out snaked through the store Friday, with customers leaving the store with armfuls of books.

All sales throughout the sales are final, and no checks will be accepted. Borders gift cards will be accepted in retail stores and online, while Borders Rewards Plus Loyalty Program discount will also be honored in stores and online for the first 14 days of the closing sales. The company will only honor "Borders Bucks" through July 31.

Items purchased prior to the closing sales may be returned with an original store register receipt. Those returns are subject to the store's return and price-adjustment policy in effect on the purchase date.

Borders is open until 10 p.m. everyday except for Sunday, when the store closes at 9 p.m.