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July 19, 2011

Borders bites the dust

by beaufou

All 399 stores will close and 10,700 employees will be layed off.

Borders originally filled for Bankrupcy in February, a deal was in the works for a company to buy its remaining assets but fell through; with over $200 million of debt, Borders could simply not survive.
The rise of MP3s as well as Ebooks have a lot to do their demise as they struggled to keep up with new technologies.
Liquidation sales will start on friday in some stores, all will be closed by September 30th.

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