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Borders may file for bankruptcy protection in February

Borders Group, the bookstore known to many for its comfortable couches and variety of books and magazines, is likely to file for bankruptcy protection after seeing sales drop and earnings plummet. On Friday, the company disclosed that it no longer complies with New York Stock Exchange rules that require it to maintain a minimum average trading price of US$1 a share over 30 days. At current, Borders is trading at US$0.393 per share.

I feel sad for them should they really file for bankruptcy.

Is Borders heading for its final chapter? [via]

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