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Kmart and Waldenbooks. Borders was acquired in 1992 by Kmart, which had acquired mall-based book chain Waldenbooks eight years earlier. [17][18][19] Kmart had struggled with the book division, having first tinkered with the assortment and later with discounting.
Jul 18, 2011 · Najafi owns Direct Brands, which operates the Book of the Month Club and the Doubleday Book Club. June 30, 2011 : Najafi submits a tentative bid to buy Borders for $215.1 million in cash and the assumption of $220 million in liabilities.
Nov 28, 2023 · In 1992, after 21 years in the business, the Borders Brothers sold Borders Book Shops and Book Inventory Systems, Inc. At that time, the central buying and distribution system supplied about 20 Borders Book Shops and a dozen affiliated independent stores.
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Borders Group, Inc. came into existence following the spin off from its parent Kmart Corporation in May 1995. But the Borders name dates back over two decades. Borders began as a single used bookstore in Ann Arbor, Michigan. The shop was founded by Louis and Tom Borders in 1971.
Feb 16, 2011 · Kmart buys Borders, then a Michigan-based chain of 21 book superstores in the Midwest and Northeast. In 1984, KMart buys Waldenbooks.
Nov 1, 2016 · A sinking ship. Founded in 1971, Borders grew from its Midwestern roots into a popular national bookstore chain after being bought for $190 million in 1992 by Kmart. Several years later, Kmart...
Jul 19, 2011 · Borders Group Inc., the nation's second-largest bookstore chain, announced that it will liquidate the company. Justin Sullivan/Getty Images. It appears to be all over for the Borders...
