Borders is out of business permanently.
“Following the best efforts of all parties, we are saddened by this development,” Borders Group President Mike Edwards said in a written statement in July. “We were all working hard towards a different outcome, but the headwinds we have been facing for quite some time, including the rapidly changing book industry, eReader revolution, and turbulent economy, have brought us to where we are now.”
The bookstore employed about 10,700 employees. With the company’s demise, rankled employees in an unknown store in the US came up with this manifesto of legitimate complaints from years of pent-up frustration:
More discussion on Reddit can be found here.
Note: Borders Group Inc., based in Ann Arbor, Mich., started with a single store opened by Tom and Louis Borders in 1971. The chain helped pioneer the book superstore concept along with larger rival Barnes & Noble Inc. It was brought down by heightened competition by discounters and online booksellers, as well as the growth in popularity of electronic books.