The collapse of the Agreement strengthened large bookstore chains and reduced book prices. It also paved the way for the large supermarket chains to take a chunk of the book business, typically offering a small number of best-selling titles at deeply discounted prices. As of 2009, 500 independent bookshops had closed since the demise of the agreement. An early example of the changes in the book publishing markets following the termination of the agreement was the entry of the US-owned booksellers Borders into the British high street, following their purchase of Books Etc.