Borders filed for Chapter 11 bankruptcy protection in February 2011 after losing ground to online retailers and digital reading.
The company began as a bookstore in Ann Arbor, Michigan, founded by brothers Tom and Louis Borders in 1971. It expanded rapidly into a large national chain, but its business was weakened by competition from Amazon, changing reading habits, and delayed development of a strong online strategy. Borders also relied on Amazon to operate its website for several years.
Borders liquidated its remaining stores after failing to find a viable buyer and ceased operations in 2011. It is often confused with Barnes & Noble, which remained in business, and with Waldenbooks, a separate bookstore chain that Borders acquired in 1984.