Borders Files for Chapter 11 Bankruptcy
Borders the Bookseller conglomerate in the USA has filed for Chapter 11 bankruptcy.
Borders is a 40 year old company that plans to close about 200 of its 642 stores over the next few weeks. Borders said it is losing about $2 million a day at the stores it plans to close.
Borders is another sign of a large company not being able to open their eyes and adapt correctly to the changing industry.
