This is a replacement blog for the empty space of Share 01162011.
You may know Borders from book shopping, looking for gifts, or gift cards you've received on holidays. Have you been shopping there recently? Probably not. Borders filed for bankruptcy, and although they are not closing all stores, they are closing 30% of them. That means that the friendly neighborhood gift store may not be there the next time you need some candles or a book for a friend.
The reason Borders is failing is because of what the book industry is rapidly becoming : digitized. The Amazon Kindle, among other readers, are becoming increasingly popular and common. Physical books are becoming unpopular, and Borders stayed on the physical book and gift industry even after it was too late. Borders did not come out with any kind of e-Reader or e-Book sales. This is the reason the much loved bookstore is now only 70% of what it used to be.
original article:
http://www.engadget.com/2011/02/16/borders-files-for-bankruptcy-plans-to-keep-operating-but-close/
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