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Borders store closing, Pittsfield Township, Michigan. On February 16, 2011, the company announced that it had filed for Chapter 11 bankruptcy protection, listing $1.275 billion in assets and $1.293 billion in debts in its filing. The company also announced the liquidation and closing of 226 stores.
The inevitable has finally happened: Borders Books filed for Chapter 11 bankruptcy protection today. The nation's second largest bookseller plans to close hundreds of stores and reduce costs in ...
The closure of the second-largest bookstore chain will alter the landscape of the bookselling industry. Borders' "Going out of business" signs summoned the masses throughout the weekend. Like ...
It looks like brick and mortar book stores will be taking a giant step closer to extinction this month, as Borders is expected to declare bankruptcy, close up to 150 stores, and lay off thousands.
Borders was a US -based bookseller, headquartered in Melbourne, Australia that also specialized in CDs, DVDs, calendars, stationery, gift packs and related merchandising in the Pacific area of Asia and Australasia. It had stores internationally in New Zealand and Australia. All of the stores also were fitted with Gloria Jeans Coffees cafés.
Waldenbooks was an American shopping mall -based bookstore chain operated by the Walden Book Company, Inc., and from 1995 was a subsidiary of Borders Group. The chain also ran a video game and software chain under the name Waldensoftware, as well as a children's educational toy chain under Walden Kids. In 2011, the chain was liquidated in ...
Borders (BGP), the country's second-largest book retailer, had been counting on a Christmas miracle to rescue it from deep financial doldrums. But the holiday season played Scrooge instead. Now ...
Under Borders, the Brentano's stores were still managed by Waldenbooks. With increased competition during the 1990s and 2000s from superstores and Internet stores, Borders was forced to close the money-losing Brentano and Waldenbooks stores. On 18 July 2011, Borders Group filed for bankruptcy and closed all remaining Brentano's stores.