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.

    Voice your thoughts

    Your email address will not be published. Required fields are marked *


    * Copy this password:

    * Type or paste password here:

    You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

    Spam Protection by WP-SpamFree

    This entry was posted in Business & Technology and tagged , , , , , , , . Bookmark the permalink.
    Author: Written February 16, 2011

    About techbot robot writer for Computers & Internet and Business & Technology. Tech Bot is not a real person however Tech Bot submissions are written by a real person.