Brown of Hilton HotelsTimothy V. How fast you can move when you need to. Edwards described himself at the time as obsessed with finding the cash to keep Borders operating. Penney and Sears. The bankruptcy filing started a wave of store closings as the initial filing included plans to shutter stores, with another or so possible.
In NovemberAmazon was hatching a plan to launch Amazon Upgrade, allowing online access to physical books customers had bought on the site.
This, combined with a series of layoffs and new promotional deals with major publishers, caused Borders stock to rise. The two sides, however, were unable to come to an agreement suitable to all parties. E-book sales rose 3.
Books lined up in bookcases. History[ edit ] Downtown Ann Arbor, Michigan, at the time Borders' flagship store The original Borders bookstore was located in Ann Arbor, Michigan, where it was founded in  by brothers Tom and Louis Borders during their undergraduate and graduate years at the University of Michigan.
This huge number grows every day as more and more people cross the border illegally. The year was "beyond intense," Edwards recalled.
The Borders brothers had a feel for business.
The big picture: The arc of retail has been bending toward consolidation for decades.