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Borders Bankruptcy Coming Next Week

Guess even my predictions were optimistic.

Borders filed for Chapter 11 (bankruptcy protection) this morning and have been delisted on NYSE, final stock price $0.2284.

They're going to restructure and see what happens.
 
^^^
Heard a report this morning that they will be closing about 30% of their stores in the next few weeks. (KING-TV, Seattle)
 
Yeah 30% is the 200 stores talked about earlier. They are completely screwed. Closing stores won't do anything if the keep sending out 40% off coupons.
 
^^^
They could have also helped themselves, perhaps, by not doing the whole "member card" thing. Think of all the money they probably spent on producing, promoting, distributing and tracking those cards. Now think about how they could have instead just had some lower prices in their stores, maybe. Or is my business math totally off here?
 
They should have copied BN and only have given out the 40% coupons once a month, not every week, to people who have a paid membership. Then what they also need is to have an eReader. I would have seen if Amazon or another brand make a deal to carry an eReader.
 
My local shop is closing. I'm sad to see it go, but hopefully I can get a few good deals on the way out. :(
 
^^^
Only two stores here in WA (Gig Harbor and Lynnwood). Neither of them the one I usually shop at, but one of them a loction I had to go to to find stuff I could not at the store I usually shop at.
 
Interesting - I thought they'd kill two of the three Ann Arbor stores, both the one they did and the downtown Ann Arbor store - it's small and the rent's got to be high. I guess "store #1" is too prestigious for that.
 
My Borders is closing, and so are 4-5 others in the state, never even knew we had that many.

I would say "Yay for the sales!" but with the 30-50% off coupon it was fine anyways. Everything will be clearance out at 20% like normal. People are stupid like that.
 
Neither of the ones I frequent are closing, so I'm happy about that.

It's been interesting to watch the rise and fall of the big-box book store. From B. Dalton and Waldenbooks to Borders/B&N/Books-a-Million to Amazon and e-books. There is a really great independent big bookstore in the town where I grew up, and it's still there, amazingly.

I wonder how many of the Borders Express/Waldenbooks locations will close?
 
Looks like the two nearest to me are staying, for now.

It's crappy news. I kinda liked Borders. When the local one goes under, hopefully it'll be replaced by something as good or better. I'd be depressed if it gets replaced by yet-another-generic-department-store.
 
^^^
You probably won't be seeing more and/or new bookstores. Things are definitely trending the other direction these days.
 
The two closest to me are closing. Boo! I got a Kindle for Christmas, but I still liked going there for box set DVDs when I had a 40 or 50% off coupon.

Without nice sales like that, I think I'm going to go all-digital for books. It's tough since I have a full hard-copy collection of Trek literature, but it's just not reasonable any more. And I love reading on the Kindle.
 
I'm right there with you, Ood. It seems like the only NEW paper books I buy anymore are the ones I intend to get signed at some point. Otherwise, it's all digital books.

I moved last year, and have downsized dramatically. I simply don't have room for thousands of paper versions anymore. When I lived in a house that had a full three stories plus a basement, there was plenty of room for libraries. Not anymore. I also like having a library literally at my fingertips, as I have with my Nook.
 
The irony for me is that the out-of-the-way Borders I hardly ever go to is staying open, while the nearby Waldenbooks I used to go to every other week closed its doors a couple of years ago...
 
I rarely if ever go into Borders. I go into B&N or HPB.

Hopefully, someone local will buy any that are closing in their neighborhood and turn them into indie bookstores with cafes or private-run libraries or something.

If I had the money or any kind of business sense, I would.
 
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