Tough times for Waldenbooks

Sometimes the bottom line is also the grim reaper.

That's part of the problem facing Borders Group Inc., the corporate book retailer that just announced an unexpectedly large fourth-quarter loss and, more to the point for its customers, a drastic solution.

Responding to the red ink that totaled almost $74 million over three months, Borders said it would cut the number of its Waldenbooks stores by more than 40 percent, from 564 to 300, by the end of next year.

The result is more bad news for bookstores, not that they need it. The move may provide a side benefit for some struggling independent outlets, but it's the rare bookshop owner who wants to build profits through the emptied shelves of competitors.

The chain has dozens of outlets across New England and is a fixture in many smaller cities. There's no word yet on which area stores will be shuttered.