Borders is shutting down for good, so are all brick-and-mortar bookstores doomed? Borders announced Monday evening that it is throwing in the towel and liquidating its remaining 399 stores just a few months after it filed for Chapter 11 bankruptcy protection. A bankruptcy-court auction was originally scheduled for Tuesday, but was ditched due to the lack of bids. The liquidation is expected to start as early as this Friday, and the entire Borders chain will be no more by September. As the second largest bookstore chain in the U.S., how did Borders fail? Naturally, most fingers are pointing to Borders’ too-little-too-late digital strategy, which left it in the dust when the tablet and eReader revolution took off. Indeed, that’s where Borders Group President Mike Edwards is firmly pinning the blame, as he ...
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