Borders Closes the Book

(The Independent) Borders, the US bookshop giant, filed for Chapter 11 bankruptcy yesterday, a little over a year after its namesake and former sister company collapsed in the UK. The same forces that brought down the UK business – competition from online booksellers such as Amazon, and latterly from electronic books downloaded to e-readers such as the Kindle – also afflicted its former parent, which owes $1.29bn (£804m) to publishers and other creditors, according to bankruptcy court filings.

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