As an avid reader, I find this sad.

However, I also know that Borders' book prices are high - a little cheaper than Barnes and Noble on some but not much.

Since I have Kindle on my iPhone and iPad - I no longer purchase "real" books. Like so many others, dealing with the paperbacks was becoming a nightmare. Just what do you do with all those books? Half Price Books pays nothing and the local nursing home is even saying "no thanks." GAH!

As to hardback books - uh not! I quit buying those darn things a long time ago. $20 for a book is outrageous even though I treasure my books and read then over and over and over.

East Texas will tell you that I do, indeed, get value for my money!

NEW YORK (CNNMoney) -- Borders Group has filed for Chapter 11 bankruptcy, and plans to close about 200 of its stores and reduce its staff, the book retailer said Wednesday.

"It has become increasingly clear that in light of the environment of curtailed customer spending, our ongoing discussions with publishers and other vendor related parties, and the company's lack of liquidity, Borders Group does not have the capital resources it needs to be a viable competitor," the company said in a statement.

Read more here: http://money.cnn.com/2011/02/16/news/companies/borders_bankruptcy/index.htm?hpt=T2