As of September of 2011, all Borders bookstore locations have closed. At the time of the announcement that Borders would be shutting its doors permanently, there were 399 stores across the country, which had 10,700 employees. Borders had been the second most popular brick-and-mortar bookstore in the country, coming in just behind Barnes & Noble.
The bookstore chain officially declared bankruptcy in February of 2011, and the company's assets were liquidated to pay off some debts. The first Borders bookstore was opened in 1971 in Ann Arbor, Mich. and, by 2010, there were 650 store locations and approximately 19,000 employees.