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He says Barnes & Noble also invested in beefing up its online sales. And at that same time, Barnes & Noble was pulling back," says Peter Wahlstrom, who tracks Barnes & Noble for the investment research firm Morningstar. went heavy into CD music sales and DVD, just as the industry was going digital. "It made a pretty big bet in merchandising. Borders built a reputation on offering a huge variety of books - tens of thousands of titles in a single store - at a time when most bookstores could afford to stock a fraction of that.īorders also had an early technical advantage: a superior inventory system that could optimize, and even predict, what consumers across the nation would buy.īut in the mid-1990s, Borders lost its edge. The vast tracts of retail space that Borders will soon vacate speak to a gargantuan business that essentially killed itself. But Borders made some critical missteps over the years that cost it the business. Along with competitor Barnes & Noble, Borders pioneered the book megastore business. The retailer's first bookstore opened in Ann Arbor, Mich., 40 years ago.
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The chain's 400 remaining stores will close their doors by the end of September. The company will be liquidated - meaning sold off in pieces - and almost 11,000 employees will lose their jobs. It appears to be all over for the Borders bookselling chain. Borders Group Inc., the nation's second-largest bookstore chain, announced that it will liquidate the company.