Borders Bookstores are dead.
Who knew the ebook revolution would kill off a major chain so quickly?
Borders has been struggling for a while, as I reported in here. When they tried to get someone to buy the company, there were no bids. So, they are out of business -- and their 11,000 employees are out of work.
"The move adds Borders to the list of retailers that have failed to adapt to changing consumers’ shopping habits and survive the economic downturn, including Circuit City Stores Inc., Blockbuster and Linens ‘N Things," said the Associated Press today.
“We were all working hard toward a different outcome, but the headwinds we have been facing for quite some time, including the rapidly changing book industry, e-reader revolution, and turbulent economy, have brought us to where we are now,” said the president of Borders, Mike Edwards, in a statement.