“We consider Borders to be in the very elite group of high-quality retailers,” said Linda Farquhar, a securities analyst for Alex Brown in New York.
That was in 1998.
Thirteen years later, having filed Chapter 11 bankruptcy late last month, Borders now finds itself teetering on the edge of extinction. Once a proud and vital brand, the company has become a cautionary tale, a reminder of the perils of stagnancy and business as usual.
It’s a harsh reality. No company wants the cautionary tale label, but in an entrepreneurial era of high-velocity media and marketing innovation, the sluggish company that …