Borders liquidating

19-Feb-2020 22:26

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In the Borders acquisition, Kmart merged the two companies in hopes that the experienced Borders senior management could bail out floundering Waldenbooks.

Instead, many of the Borders senior management team left the company, leaving behind an even larger and more unwieldy division for Kmart executives to handle on the heels of aggressive expansions by rivals Barnes & Noble and Crown Books.

Borders was acquired in 1992 by Kmart, which had acquired mall-based book chain Waldenbooks eight years earlier.

Kmart had struggled with the book division, having first tinkered with the assortment and later with discounting.

Starting in the 1970s, the company had a competitive edge for two decades due to its software system, which allowed stores to manage inventory and accurately project sales.

In 2004, through its subsidiary, Seattle’s Best Coffee, Borders started to implement cafes within stores.

S., primarily in its Borders and Waldenbooks stores.

At the beginning of 2010, the company operated 511 Borders superstores in the US.

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stores throughout Britain from Philip and Richard Joseph. was established as a Borders Group subsidiary and with its Borders and Books etc. In April 2005, Borders Group opened its first franchise store with Malaysia's Berjaya Books Sdn. The store in Berjaya Times Square was advertised as being the world's biggest Borders at 60,000 square feet (5,600 m²); however, this has since changed with the closure of one level of the store.

Facing its own fiscal problems and intense pressure from stockholders, Kmart spun off Borders in a highly structured stock-purchase plan.

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