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First of all, selling out to KMart.
A string of CEOs who knew nothing about books.
As others have stated, leaving their online and ebook selling to 'partners' rather than taking it on in-house.
Also, having millions of square feet of expensive retail space, much of it within walking distance of B&N stores.
The world is going digital, and has been for years - Border's had ample time to catch that train and chose not to.
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