Borders files for Ch. 11 bankruptcy protection

FILE - In this file photo made March 31, 2009, a Borders Books & Music sign is displayed at the bookstore in Peabody, Mass. (AP Photo/Lisa Poole, File)

February 16, 2011 11:08:46 AM PST
Bookseller Borders, which helped pioneer superstores that put countless mom-and-pop bookshops out of business, filed for bankruptcy protection Wednesday, sunk by crushing debt and sluggishness in adapting to a rapidly changing industry.

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