Unfortunately, Waldenbooks ceased operations and filed for bankruptcy. While it was at one time the largest mall-based bookstore, changing markets and the drifting of customers away from malls helped to bring about their downfall.
The bookstore was bought up by KMart when they were diversifying, along with Borders. After a few years, the management of KMart decided to merge Borders, Waldenbooks, and Brentano's into one large company in 1994 and spun the new company off. Many of the Waldenbooks were rebranded as Borders Express in 2004, but about two-thirds were shut down because the shopping habits of Americans were changing by the time 2010 rolled around. In the end they filed for complete liquidation of all remaining Waldenbooks and Borders in 2011.
Rest in peace, Borders and Waldenbooks.