Borders Files for Bankruptcy

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  #1  
Old 02-16-2011, 08:13 PM
BBQMan BBQMan is offline
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Default 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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Old 02-17-2011, 06:20 AM
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Sadly, our local Borders here in England, closed about 15 months ago. Very sad, it was such a nice place to meet, browse, drink coffee and buy books. We are lucky though to have quite a few independant book stores all within a 15 to 20 minute drive from my home. I think it helps living in a university town
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Old 02-17-2011, 06:30 AM
HawkeyeBarb HawkeyeBarb is offline
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Read in our local paper this morning that our Borders here in West Lafayette, IN is closing within a month. Kind of expected it...but am really sad! I went there at least 3 or 4 times a month to buy books to send to grandkids and also for myself. It was always a great place to buy gift cards, calendars and reading related gifts for family and friends, too. Guess it is another victim of the electronic age. My youngest daughter got a Nook from her husband for Valentine's Day and she already loves it. I, like many others my age, prefer to hear the turn of a paper page....altho I swore I would never have a DVD player, cell phone, laptop or a van with automatic doors...and certainly am enjoying all of them now. What's next??!!!
There is a Barnes and Noble bookstore in Lafayette very close to our mall...guess they will get more business now but who knows for how long.
Sad day!
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Old 02-17-2011, 07:16 AM
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What is known is Borders will honor gift cards at the remaining stores. I have avoided purchasing a Kindle/Nook because I didn't want to be part of the reason for the demise of book stores, but I fear within five years, there will be no more book stores nor newspapers.
As for all the good the electronic age has given us, there are a lot of negatives. So sad.
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Old 02-18-2011, 08:57 AM
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Quote:
Originally Posted by Tom Hannon View Post
What is known is Borders will honor gift cards at the remaining stores. I have avoided purchasing a Kindle/Nook because I didn't want to be part of the reason for the demise of book stores, but I fear within five years, there will be no more book stores nor newspapers.
As for all the good the electronic age has given us, there are a lot of negatives. So sad.
The "electronic age" didn't cause the demise of local bookstores. That was the result of the big book super-stores pricing them out of business.
What goes around, comes around.
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Old 02-18-2011, 11:06 AM
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Like the movie "You got mail"
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Old 02-21-2011, 05:02 PM
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anytime a bookstore close, a literary angel cries...I liked Borders.
Hope B&N will stay around, just bought a refurbished Nook from them.
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