End Of An Era (BGP)

Borders Group, Inc. BGP has announced that it's filing for Chapter 11 bankruptcy protection. As of December 25, Borders had liabilities of $1.29 billion and assets of $1.28 billion. Sales at Borders have fallen by more than 10% each year from 2008-2010. “Instead of leading and being innovative, they were certainly a follower,” said Michael Souers, an analyst for Standard & Poor's in New York. Shares of Borders are at 21 cents in pre-market trading.