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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.

Read more from economy

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