Borders Files for Bankruptcy
Borders Books has filed for bankruptcy and seeks to remain in business in a reduced size after reorganization - they are closing about 200 of their stores. Their ability to emerge from bankruptcy is questionable since they have not been making payments to a large number of their landlords and publishers.
The immediate beneficiary of this is Barnes & Noble who will have less competition in retail bookstores. The long term beneficiaries will be the e-book sellers including Amazon, Apple and Barnes & Noble. It remains to be seen how many e-book publishers will prosper. The next shakeout will be interesting.
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"Liberty means responsibility. That is why most men dread it." - George Bernard Shaw
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