Borders closing

Remnants of a sign remain on the exterior of a closed Borders Bookstore in San Rafael, California. Borders Group Inc., the nation's second largest bookstore chain, annouced today that it will liquidate the company after they failed to find a buyer following a Chapter 11 bankruptcy filing and attempted reorganization in February. Nearly 400 stores will close and an estimated 11,000 jobs wil be lost.

( Justin Sullivan/Getty Images / July 17, 2011 )

Remnants of a sign remain on the exterior of a closed Borders Bookstore in San Rafael, California. Borders Group Inc., the nation's second largest bookstore chain, annouced today that it will liquidate the company after they failed to find a buyer following a Chapter 11 bankruptcy filing and attempted reorganization in February. Nearly 400 stores will close and an estimated 11,000 jobs wil be lost.

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