Borders Bankruptcy Coming Next Week

[Snaploud]

Borders Bankruptcy Coming Next Week


NEW YORK — Borders Group Inc. may file for bankruptcy reorganization as early as Monday or Tuesday, according to a report in the Wall Street Journal.


The No. 2 traditional bookstore in the U.S. also plans to close about 200 of its 674 stores and cut thousands of jobs, the newspaper reported on Friday, citing sources it did not name.


The story also says Borders is hearing pitches from Bank of America Corp. and General Electric Co.'s finance arm for $450 million in financing to keep operating under bankruptcy protection.


http://www.huffingtonpost.com/2011/02/12/borders-bankruptcy-detail_n_822128.html

http://online.wsj.com/article/SB10001424052748704329104576138353865644420.html

Well, we knew it would happen eventually.

 

[TemporalFlux]

Well, we knew it would happen eventually.

Yep. Especially once it came to light that Borders had been selling books without paying the suppliers.

 

[MLJames]

I hated having to shop at Borders. I don't know who chose the layout for the store nearest me, but you'd have had a hard time finding a less customer-friendly floorplan than the one it had when it opened. Most of the sections didn't have labels, and it stayed that way for years. It took forever to find anything on the shelves, and I never went in the place unless someone gave me a gift card from there at Christmas.

 

[Kirby]

^^^ My experience with Borders exactly.
I'm sorry to see them going through this, especially since people will be losing their jobs as a result, but I tried to avoid Borders whenever possible for those same reasons. Of course, it doesn't hurt that I have a B & N just up the street from my house.

After being spoiled by giants like Borders, Barnes and Noble, and Amazon, it's funny to think back on the tiny old Waldens and B. Dalton bookstores of my youth.

 

[TheLobes]

Do they have as many charity shops in America? In the Uk they have like six or so in each town, with usually one of those devoted entirely to books. They're always in pretty good shape, a fair number unread, for like one or two quid. New books are like 8 or 9, screw that. I stopped using actual book shops a long time ago.

 

[BenRoethig]

What's a charity shop?

 

[Mr Light]

I'm guessing a used book store?

 

[BillJ]

Glad I bought a Kindle instead of a Nook.

Actually bought a Kindle because the salesman at my local Barnes and Noble just seemed slimey while trying to push a Nook on me.

 

[TheLobes]

What's a charity shop?

I guess thats a 'no'! Loads of charities, like Oxfam and Age Concern, have shops in towns where people drop stuff off, usually clothes, games, dvds/videos, bric-a-brac and books. The donated merchandise is then sold for low prices. Usually a charity shop will have two shelves full of books, but, as I said, most towns have one exclusively dedicated to books, selling for around 1 or 2 pounds each. You can also do pretty well on videos, I got the first two seasons of the Sopranos for 2 pounds! Saw the whole of DS9 in one for 8 pounds. You really dont have these in the USA?

Glad I bought a Kindle instead of a Nook.

Actually bought a Kindle because the salesman at my local Barnes and Noble just seemed slimey while trying to push a Nook on me.

Lucky you, I got a Kindle for Christmas and I ****ing hate it.

 

[Alidar Jarok]

What's a charity shop?

Probably like a Goodwill.

If I wanted moldy romance novels and Tom Clancy books, I'd shop at Goodwill, but that's about it.

 

[Mr Light]

Saw the whole of DS9 in one for 8 pounds.

8 pounds of what?

 

[TheLobes]

What's a charity shop?

Probably like a Goodwill.

If I wanted moldy romance novels and Tom Clancy books, I'd shop at Goodwill, but that's about it.

Not like Goodwill then. Theres a basic fiction section, where you'd find the romance novels, but some decent modern fiction too. Then they have a shelf or two of classics, and the biggest section is usually sci-fi and fantasy. I went to one yesterday and got Doctor Zhivago, Glamorama and Foundations Edge.

Saw the whole of DS9 in one for 8 pounds.

8 pounds of what?

8 pounds of TNG.

 

[Captain Shaw]

Coming from the UK, I have never seen a charity shop just for books?
Would love to find one though.
On second thoughts, I should stay away from shop's full of cheep books.

 

[Professor Zoom]

Glad I bought a Kindle instead of a Nook.

What's that got to do with Borders?

Actually bought a Kindle because the salesman at my local Barnes and Noble just seemed slimey while trying to push a Nook on me.

To bad about the salesman. I got a Nook and LOVE it.

 

[bigdaddy]

Glad I bought a Kindle instead of a Nook.

What's that got to do with Borders?

Actually bought a Kindle because the salesman at my local Barnes and Noble just seemed slimey while trying to push a Nook on me.

To bad about the salesman. I got a Nook and LOVE it.

I think someone is confused over Border's and B&N.

 

[Professor Zoom]

Glad I bought a Kindle instead of a Nook.

What's that got to do with Borders?

Actually bought a Kindle because the salesman at my local Barnes and Noble just seemed slimey while trying to push a Nook on me.

To bad about the salesman. I got a Nook and LOVE it.

I think someone is confused over Border's and B&N.

That's what I thought, but, then the second paragraph...

Border's doesn't own Barnes and Noble... so...

I don't know how Barnes and Noble is doing, it helps they have their own e-reader, which Borders didn't have.

 

[bigdaddy]

I don't know how Barnes and Noble is doing, it helps they have their own e-reader, which Borders didn't have.

Because of that they aren't doing too bad, but still chain book stores will be dead pretty soon, just like movie renting stores are next to gone.

I actually buy 90% of my books used so neither one matters to me, but I shop at Borders a lot more, they have clearance book section and, what will be their death, a 30% to 50% off coupon every week.

 

[Professor Zoom]

I don't know how Barnes and Noble is doing, it helps they have their own e-reader, which Borders didn't have.

Because of that they aren't doing too bad, but still chain book stores will be dead pretty soon, just like movie renting stores are next to gone.

I actually buy 90% of my books used so neither one matters to me, but I shop at Borders a lot more, they have clearance book section and, what will be their death, a 30% to 50% off coupon every week.

It might even signal a resurgence of mom and pop stores, smaller stores for a more dedicated group.

Personally, I still buy used, or from Barnes and Noble, I have the membership with them. And generally, I buy from them online, cheaper and free shipping no matter how much the order. better deal than Amazon.

 

[Aragorn]

So Borders isn't making a killing selling $20 DVDs for $35?

 

[bigdaddy]

I don't know how Barnes and Noble is doing, it helps they have their own e-reader, which Borders didn't have.

Because of that they aren't doing too bad, but still chain book stores will be dead pretty soon, just like movie renting stores are next to gone.

I actually buy 90% of my books used so neither one matters to me, but I shop at Borders a lot more, they have clearance book section and, what will be their death, a 30% to 50% off coupon every week.

It might even signal a resurgence of mom and pop stores, smaller stores for a more dedicated group.

Personally, I still buy used, or from Barnes and Noble, I have the membership with them. And generally, I buy from them online, cheaper and free shipping no matter how much the order. better deal than Amazon.

I usually only buy nature books (garden, herbs, plants, Thoreau and Emerson) and cheap cooking books / preserving book. 90% of which I go to used book stores and flea markets. I found 5 books yesterday for $5 yesterday and for some reason there was no tax at a new flea market.

I rarely read fiction, and if I do there are libraries and cheap used book stores. Honestly if anyone is ever in Western Mass USA I know where the cheap books are.