Borders Group, Inc., through its subsidiaries, operates book, music, and movie superstores, as well as mall-based bookstores. The company, through its stores, offers books, movies, gifts, and stationery; and new releases, hardcover and paperback bestsellers, and periodicals in malls, airports, and outlet malls. As of February 3, 2007, it operated 567 superstores under the Borders name, including 499 in the United States, 41 in the United Kingdom, 20 in Australia, 3 in Puerto Rico, 2 in New Zealand, 1 in Singapore, and 1 in Ireland. Borders Group also operated 564 mall-based and other bookstores primarily under the Waldenbooks name in the United States and 30 bookstores under the Books etc. name in the United Kingdom. In addition, the company owns and operates Paperchase Products Limited, a designer and retailer of stationery, cards, and gifts. As of the above date, Paperchase Products operated 99 stores, primarily in the United Kingdom. Borders Group was founded in 1971 and is headquartered in Ann Arbor, Michigan.