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Value_Investor

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Value_Investor

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Tuesday, 07/19/2011 9:24:09 AM

Tuesday, July 19, 2011 9:24:09 AM

Post# of 842
Borders Group Remaining Stores Closing

Borders Group announced that it will be closing its remaining 399 stores and terminating its remaining employee positions. The Company expects to out of business by September 2011. "Following the best efforts of all parties, we are saddened by this development," commented Borders president Mike Edwards. "We were all working hard toward a different outcome, but the head winds we have been facing for quite some time, including the rapidly changing book industry, [electronic reader] revolution and turbulent economy, have brought us to where we are now."

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