Borders files for Chapter 11 Bankruptcy
L.A. Times: Borders Group files for bankruptcy reorganization
The bookseller, struggling with poor sales and heavy debt, will close about 200 stores - including 35 in California - and lay off about 6,000 workers.
This is a sad day, as I lived in Ann Arbor for 10 years and have lived in Michigan for 22 years, so I consider Borders to be my hometown bookstore. I remember when their flagship store was a glorified hole in the wall and was still trendy and cool. I hope the chain survives.
I want to read what theferrett thinks about this news. He used to work for Borders and was there when he says the company started to go downhill. I'm sure he'll have something to say, even if it's nothing more than "I told you so."