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To compete in the rapidly growing e-reading market in the 2000s, Borders began selling various e-books devices.
Borders put out its own e-reader app, where customers could easily download and access a large catalog of books.
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.
Although not the original location, it was identified as "Borders #1" because it was the flagship store.
At its peak, the company operated more than 650 stores and employed over 35,000 people.
Borders also operated as Basset Book Shop, Borders, Borders Books & Music, Inc., Borders, Inc., Day by Day Calendar Co, Walden Book Company, Inc., and Waldenbooks The former headquarters address of Borders was located in Ann Arbor, MI.
Despite a purchase offer from the private equity firm Najafi Companies, Borders was not able to find a buyer acceptable to its creditors before its July bidding deadline, so it began liquidating its remaining 399 retail outlets, with the last remaining stores closing their doors in September.
Rival bookseller Barnes & Noble acquired Borders' trademarks and customer list.
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.