I’m not, sadly, entirely surprised. Like in football, at the end of four quarters, there’s a winner, and there’s a loser. Somehow, Borders got outplayed by Barnes and Noble in the brick and mortar business of books, and they got blown out of the water by Amazon online. Apparently some stores will remain for the time being… but I wouldn’t count on those for too long.
Borders files bankruptcy and plans to close 30% of stores as book market changes
By Michael S. Rosenwald
Washington Post Staff Writer
Wednesday, February 16, 2011; 11:08 PM
Borders Group, the bookstore chain whose rise helped crush scores of independent booksellers, filed for Chapter 11 bankruptcy reorganization Wednesday, announcing the closing of 200 stores, including eight in the Washington area.
Read more here.