With a lot less fanfare than a similar statement from Borders Group last week, Page One Bookstore in Albuquerque filed for Chapter 11 bankruptcy protection on February 8 in U.S. Bankruptcy Court, District of New Mexico. In an e-mail to customers, owner Steven Morado Stout said that he hoped to keep the store open, but that it will downsize from its current size of 25,000 sq. ft. Borders, too, will have a smaller presence in the city, and one of its three Albuquerque stores is holding a going-out-of-business sale.

In its filing, Page One listed assets of $799,000 in inventory, including $205,000 in antiquarian books, $243,000 in used books, and $98,000 in new books. The 30-year-old bookstore’s liabilities total $1,371,00. Owner Stout, the largest secured creditor, is owed $453,400; family members Glenn and Helen Stout, also secured creditors, are owed $193,000.

Publishers and wholesalers were among the top 20 unsecured creditors, with Ingram near the top with $50,000, followed by Penguin, $25,000. University of New Mexico Press is owed $12,000; Browntrout Publisher $11,700; Wiley $10,000; Simon & Schuster $7,000; and HMH, $6,000. A creditors meeting will be held on March 10.