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Recent Event Highlights: More Delayed Payments, Delayed Payments, and 17 more...
Created by brshort
on Jan 31, 2011
Last updated: 02/16/11 at 10:45 AM
The Rise and Fall (and Rebirth?) of Borders Group has no followers yet. Be the first one to
After weeks of rumors, Borders declares bankruptcy.
Borders announces that they are delaying January payments to some vendors. Bankruptcy rumors persist.
GE Capital announces 550 million dollars in financing for Borders'; debt.
Borders announces that they are delaying payments to some vendors.
Borders opens their e-book store for the Kobo e-reader (Amazon's Kindle was released in 2007, Barnes and Noble's Nook was released in 2009).
Tobacco exec. Bennett LeBow, becomes the CEO of Borders Group Inc, the fourth CEO for Borders Group in 18 months.
Borders announces a 10% reduction in corporate jobs.
Borders cuts management positions in an effort to reduce costs.
Borders shares sell at 35 cents, an all-time low.
Bill Ackman's Pershing Square purchases an 11 percent stake in Borders Group. Ackman claims that fears of competition from Amazon.com are "exaggerated."
Borders begins to sell and support the Sony reader, an e-book reading device.
Borders Group partners with Amazon to re-launch Borders.com, utilizing the Amazon.com e-commerce platform.
Borders Group buys, All Wound Up, a toy company, in a plan to expand and diversify its retail offerings. The purchase hurts Borders' liquidity.
Borders shares sell at $41.75, an all-time high. Borders Group opens Borders Online, and critics fault the company for their delayed entry into the e-commerce market.
Borders-Waldenbooks is spun off from K-Mart in an IPO, renamed Borders Group.
The original Borders shop in Ann Arbor closes.
Borders--a regional chain with 21 superstores--is purchased by Kmart.
Robert DiRomualdo cecomes the company's President and Executive. Borders opens 14 additional stores in the next 3 years.
The Borders brothers launch their first prototype “super-store" (with a coffee bar!).
Tom and Louis Border found Borders Book Shop in Ann Arbor, Michigan, at 209 State Street, north of the State Theater.