Borders files for bankruptcy

Subject: Borders files for bankruptcy Wed Feb 16, 2011 11:18 am

Borders in trouble:

http://www.guardian.co.uk/business/2011/feb/13/borders-bankruptcy-on-cards-in-us

Subject: Re: Borders files for bankruptcy Wed Feb 16, 2011 11:37 am

Sad, but not surprising.

Subject: Re: Borders files for bankruptcy Wed Feb 16, 2011 11:51 am

Borders was the store that I did my first and last book signing. They had my books in stock. I don't believe that contributed to their bankruptcy.
Pehaps there will be a price reduction. Twisted Evil

Subject: Re: Borders files for bankruptcy Wed Feb 16, 2011 1:11 pm

Eh, whatever. Locally owned independent bookstores will fill the void. They were there long before Borders and will be there long after them.

Subject: Re: Borders files for bankruptcy Wed Feb 16, 2011 1:49 pm

Time will tell! Along came Amazon, Kindle, etc...

Subject: Re: Borders files for bankruptcy Wed Feb 16, 2011 3:25 pm

Borders handled a signing for me and stiffed me for $250.00 for books they purchased from me, stocked and sold (purchased from me as the distributor) and then did not pay the invoice - passed it "up the line" so far it disappeared. I understand they stiffed a few others as well.

Subject: Re: Borders files for bankruptcy Wed Feb 16, 2011 8:51 pm

2/17/2011

We'll Borders here in Santa Fe is closing, I know someone
who just became a manager two months ago, now she'll
be out of a job..

http://www.santafenewmexican.com/Local%20News/Borders-to-close-Sanbusco-location-

Cheers..Joe

Subject: Re: Borders files for bankruptcy Wed Feb 16, 2011 9:09 pm

Two are closing here. Won't be any in the area. That leaves B & N and Books a Million.

Subject: Re: Borders files for bankruptcy Wed Feb 16, 2011 9:25 pm

2/17/2011

DK.

I read Amazon is killing them off one by one, plus
the book publishing world is changing at a rapid fast pace.

Cheers..Joe

Subject: Re: Borders files for bankruptcy Thu Feb 17, 2011 1:40 am

I don't think Amazon is to blame here, there are many online book retailers that have appeared over the years and most of the big book chains have online stores now. It is the recession that has clinched it. Borders folded in the UK around Christmas 2009. I used to service their alarms in the London branches and it was evident they have been reducing their stocks for a long time. Their stores were always very big, bigger than some local town libraries.

Subject: Re: Borders files for bankruptcy Thu Feb 17, 2011 5:01 am

And B&N isn't doing that well, either. The center down the road from my subdivision that opened in early '09 still has a huge empty building for lease because B&N decided not to open there after all.

Ann

Subject: Re: Borders files for bankruptcy Thu Feb 17, 2011 5:19 am

My understanding is that the Nook and ebooks gave B & N a boost that it needed. I received an email from the Borders CEO to members pushing their online store and ebooks during chapter 11. That emphasis might save them for the future but as a smaller voice since there are so many already working the online and ebook market.

Subject: Re: Borders files for bankruptcy Thu Feb 17, 2011 6:04 am

Good point.

Ann

Subject: Re: Borders files for bankruptcy Thu Feb 17, 2011 6:45 am

I agree with Zizban. Independent bookstores -the ones Borders put out of business- will come back to fill the void.

DK, apparently Borders has stiffed publishers for millions of dollars, consider yourself lucky for just losing $250. Smile

Subject: Re: Borders files for bankruptcy Thu Feb 17, 2011 7:10 am

2/17/2011

Another reason I read is people would go in have coffee
read books for free then don't buy them, I've seen it here
at Borders, which surprised me...

Cheers..Joe

Subject: Re: Borders files for bankruptcy Thu Feb 17, 2011 7:18 am

joefrank wrote:: 2/17/2011

Another reason I read is people would go in have coffee
read books for free then don't buy them, I've seen it here
at Borders, which surprised me...

Cheers..Joe

I wonder how many books were ruined from the coffee stains and spills.

Subject: Re: Borders files for bankruptcy Thu Feb 17, 2011 7:24 am

Yes, browsing at the bricks and mortar stores and then buying at Amazon has hurt them. Perhaps the new bookstore owners will shrinkwrap all books, just keeping one out for page browsing. Or maybe they'll have screens for electronic browsing, and a slightly cheaper purchasing option from their own websites.

Subject: Re: Borders files for bankruptcy Thu Feb 17, 2011 8:53 am

I read that Borders owes various publishers something north of $200 million.

Subject: Re: Borders files for bankruptcy Thu Feb 17, 2011 12:00 pm

Pretty bad--doesn't make me wish to open a book store.

Subject: Re: Borders files for bankruptcy Thu Feb 17, 2011 12:11 pm

Opening a bookstore can work, like any other business, if you can fill a niche. The Borders closed here ages ago and it was replaced by two independent bookstores that are thriving.

Subject: Re: Borders files for bankruptcy Thu Feb 17, 2011 6:33 pm

There was an article about this in today's WSJ. The publishers were quoted as being as worried about one less outlet to display/promote their books as they were collecting monies owed them. They said that the main way to sell books is through physical display outlets.

Doesn't sound like a rousing endorsement for the Amazon/Smashwords/Lulu school of thought that says books can be sold there just as easily.

Subject: Re: Borders files for bankruptcy Thu Feb 17, 2011 7:11 pm

Where the advertising dollars point is where the buyers will go.

Subject: Re: Borders files for bankruptcy Thu Feb 17, 2011 7:23 pm

Oh, I agree. But they can't advertise every book. They never have and never will.

Subject: Re: Borders files for bankruptcy Fri Feb 18, 2011 2:25 pm

Subject: Re: Borders files for bankruptcy Fri Feb 18, 2011 7:27 pm

Here is the challenge: a way to introduce new books digitally that is as impressive as the front tables at the big box book sellers. Amazon tries with it's pages - but innovation is needed.

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