The collapse of Borders Group is not just bad news for bookworms, it is also an unwelcome development for investors in suburban shopping centers that used to be anchored by the bookstore. Kris Hudson has details on The News Hub. Photo: Kris Hudson/The Wall Street Journal.

Close to a year after Borders Group Inc. collapsed, suburban shopping centers still are struggling to fill the vacated big-box space—and to cope with changes in the way Americans shop.

Many shopping centers that lost Borders after the chain announced its liquidation are suffering high vacancies, falling rents and even debt defaults. Values have been falling in particular for the suburban shopping centers that rely heavily on big-box stores and have been bearing the brunt of the impact from online retail competition.

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