Borders’ Bezos Champagne Toast Marked Start of Chain’s Demise
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Borders Group Inc.’s almost certain liquidation may have begun with a toast a decade ago celebrating its decision to pay Amazon.com Inc. to run its website.
At an August, 2001, party near Borders’ headquarters in Ann Arbor, Michigan, then-Chief Executive Officer Gregory Josefowicz brandished a bottle of Champagne and said Amazon founder Jeffrey Bezos had sent a case to show his gratitude.