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Borders – founded in 1971 by brothers Tom and Louis Borders – filed for Chapter 11 bankruptcy today – $1 billion debt
Looks like the question of whether or not E-Books will ever have the kind of large-scale impact to possibly render bookstores obsolete has been answered today. Borders has apparently filed Chapter 11 bankruptcy.
From The Washington Post – The story of Borders Group has apparently reached its climax.
The iconic bookstore chain, founded in 1971 by brothers Tom and Louis Borders, filed for Chapter 11 bankruptcy reorganization Wednesday morning, weighed down by more than $1 billion debt and unable to navigate rapid changes in consumer behavior.
In: E-books downloaded whenever, wherever. Out: People buying books in Borders stores.