Eight years after acquiring Waldenbooks, Kmart Corporation acquired Borders in 1992. Under Kmart, their leadership was merged into a single parent entity, Borders-Walden Group. In August 1994, Kmart announced plans to spin off most of Borders-Walden’s stock to the public at a later date, and in September, they acquired Raleigh-based Planet Music and parent company CD Superstore.
Borders Group
1994–2003
BETTER LOGO NEEDED
Designer:
Unknown
Typography:
ITC Avant Garde Gothic Book (modified)
Launched:
November 29, 1994
On November 29, 1994, the Borders-Walden Group was formally renamed Borders Group. The company had its IPO on the New York Stock Exchange on May 25, 1995. Due to a changing company focus, the group wound down Planet Music’s operations until its last location was closed in October 1998.
Borders Group filed for Chapter 11 bankruptcy protection in February 2011, but despite an offer by a private equity firm, the company’s proceedings were converted to Chapter 7 as no prospective buyers were acceptable to their creditors. Liquidation began on July 22, 2011 until the last Borders and Waldenbooks locations were closed by September 28, 2011. Rival Barnes & Noble assumed Borders' client list and trademarks.
