Borders (2009)
THE REASON: Borders was already a distant No. 2 to Barnes & Noble in the bookstore market, technology shifts left the book seller standing in its tracks. Consumers sought better prices online at Amazon.com, and started reading these things called e-books. Closing a bunch of small-format Waldenbooks and focusing on the big box format did not help its cause, 24/7 Wall St. said.
TODAY: Borders is a distant memory. It filed for Chapter 11 in Feb. 2011 and began shutting down operations. 10 months later, and Barnes & Noble acquired Borders’ trademarks and customer lists.
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