Borders files for Ch. 11 bankruptcy protection

NEW YORK (AP) — Bookseller Borders, which helped pioneer superstores that put countless mom-and-pop bookshops out of business, filed for bankruptcy protection today, sunk by crushing debt and sluggishness in adapting to a rapidly changing industry. The 40-year-old company plans to close about 200 of its 642 stores over the next few weeks. All of the stores closed will be superstores, Borders spokeswoman Mary Davis said. The company also operates smaller Waldenbooks and Borders Express stores.