PDA

View Full Version : Borders to file for bankruptcy



Torgo
02-14-2011, 01:51 PM
The long, slow death of the bricks and mortar bookstore goes on... (http://www.thebookseller.com/news/borders-expected-file-bankruptcy.html)

Jamesaritchie
02-14-2011, 06:25 PM
It's just Borders. They brought it on themselves, and it has nothing to do with a slow, slow death for brick and mortar. It has to do with horrible business decisions.

Torgo
02-14-2011, 06:32 PM
It's just Borders. They brought it on themselves, and it has nothing to do with a slow, slow death for brick and mortar. It has to do with horrible business decisions.

The horrible business decisions brought the end on more swiftly, sure. I think the end is in sight for the business of selling books/CDs/DVDs on the high street, though.

artemis31386
02-14-2011, 06:50 PM
*shrugs*
Adapt or die. Its the way of the world, its the way of industry and its never going to change.

Susan Littlefield
02-14-2011, 07:22 PM
They are closing down some of their stores, not all. Our store in Santa Rosa will stay open, which is good because we use it as a central location for our critique group meetings twice a month.

They will be closing stores that are in close proximity of each other- such as two borders stores in bigger cities that are close together. I think it's about 160 stores closing all together.

Phaeal
02-14-2011, 07:31 PM
They're crazy if they close "my" Borders -- Saturday and Sunday I couldn't even find a parking spot in their lot. Plus Seattle's Best has a new salted toffee mocha that ROCKS, and the Borders Cafe is extra busy. Already discussed my expanded cafe business model. "My" Borders could double their tables and still fill them.

Sheryl Nantus
02-14-2011, 07:47 PM
They are closing down some of their stores, not all. Our store in Santa Rosa will stay open, which is good because we use it as a central location for our critique group meetings twice a month.

They will be closing stores that are in close proximity of each other- such as two borders stores in bigger cities that are close together. I think it's about 160 stores closing all together.

Part of the problem is that when they absorbed another bookstore chain they kept all of THOSE stores open, even when there were Borders stores already in the area. So the buying customers were split between two stores both paying rent and so forth.

I don't see this as much signaling the demise of bookstores, no matter what the gung-ho online crew says. It looks to me like more a case of mismanagement of resources and of just poor judgement.

For years the Borders website went directly to Amazon. It wasn't until recently they opened their own website and it's full of bugs and errors. My hubby tried to order a book and had to jump through hoops and contact customer service to redeem his Borders bucks. The website, in a word, sucks. And you can't do that these days, not if you want to survive.

And, to be honest, in a recession books are going to be considered a luxury by many. Food or books - most people will choose books. It's just the way things are.

My local B&N does booming business - mostly because of their events. Storytime for young childrens, author signings and so forth. And the store is *very* full almost all of the time with people buying...

... wait for it...

printed books.

While ebooks may be "the wave of the future" there's still going to be a large number of people who want actual books.

It'll be sad to see Borders cut down even more but I don't see it as the end and all that of bookstores.

I see it as bad business decisions coming home to roost. When the auto manufacturers went under I don't recall anyone predicting the end of cars.

Although I'm still waiting for my jetcar...

:D

fireluxlou
02-14-2011, 08:47 PM
I always thought they had poor management and lacking in the PR department, that is referring to the UK branch of the company which doesn't exist any more. They could never compete against Waterstones or independent book shops in the UK. I am not surprised to be honest that they're going bankrupt in the States.

CheyElizabeth
02-14-2011, 09:01 PM
My local borders is a big, brand new expensive building built directly across the street from a well-established Barnes & Noble.

Stupid business decision.

Susan Littlefield
02-15-2011, 12:43 AM
Part of the problem is that when they absorbed another bookstore chain they kept all of THOSE stores open, even when there were Borders stores already in the area. So the buying customers were split between two stores both paying rent and so forth.

I don't see this as much signaling the demise of bookstores, no matter what the gung-ho online crew says. It looks to me like more a case of mismanagement of resources and of just poor judgement.

My local B&N does booming business - mostly because of their events. Storytime for young childrens, author signings and so forth. And the store is *very* full almost all of the time with people buying...

It'll be sad to see Borders cut down even more but I don't see it as the end and all that of bookstores.

I see it as bad business decisions coming home to roost. When the auto manufacturers went under I don't recall anyone predicting the end of cars.

Although I'm still waiting for my jetcar...

:D

Yes, the current outcome is the result of bad business on their part. I am not a particualr fan--in fact, I don't shop there at all. It's just a central location for our critique group. They provide a private table, whereas Barnes and Noble has removed ther chairs and does not have room for groups to meet.

Barnes and Noble is oaky, but I love any independent local bookstores I can find. They support thier community.

Phaeal
02-15-2011, 02:59 AM
Barnes and Noble is oaky.

It is, indeed, with rich grassy notes and just a hint of peach and papaya. The '89 Reserve is particularly nice, I find.

juniper
02-15-2011, 11:17 AM
The Borders in downtown Portland (Oregon) closed last fall. It had always had a lot of people in there, that I could see, and there was a light rail stop right in front of it. But it was just a few blocks from Powells, which is just so much better at just about everything. But last week Powells announced it was laying off 32 people, so all is not well there, either.

Rhoda Nightingale
02-15-2011, 07:25 PM
This makes me so sad... I know the business model is to blame and all, but I love my local Borders. All the people who work there know me by name--and I know a lot of their's, too. One of them helped me decide which X-Men to buy first, when I started collecting them. They've all tracked down various things for me, climbing up on the high shelves and whatnot. I've run into them other places and they ask me how my writing's going. It's like my bar, y'know? It's where I hang out! :(

amyashley
02-15-2011, 10:07 PM
good article for it here:

http://www.shelf-awareness.com/issue.html?issue=1390

Saw something similar a while back and found this again thanks to the ever-fab Janet Reid. This is sad, but it is a result of many VERY poor choices made over a long period. I don't see it happening to all the chains.

The next few years will be very interesting for publishing and book selling. I don't see traditional books going away... ever. There is a need for them in many areas. I adore my kindle, but it is not a good tool for research. I can't see it becoming better than books for a long time. That is only ONE example.

As far as online stores go, too many customers prefer brick and mortar. There is still a need. Customers rule what will be, not the retailers themselves.

Bookewyrme
02-15-2011, 10:24 PM
I don't see it happening to all the chains.



Actually, Barnes and Noble has been having financial issues for at least a year now as well. I don't think they actually filed for bankruptcy yet, but have been skirting the edge of it. I could be wrong, it's been a while since I read the articles about it.

Interestingly, I haven't heard anything about Books-a-Million having issues financially. I'm almost surprised, since as far as atmosphere, organization and friendliness go, I generally prefer to shop at Borders or B&N. I suppose they may just have a better business-model though.

rosiecotton
02-16-2011, 05:24 PM
Publishers Lunch just put out an email special. They've filed and plan to close about 200 stores.

aruna
02-16-2011, 07:56 PM
From the Publishers Lunch email:
money owed to publishers



Penguin $41.1 million
Hachette Book Group $36.9 million
Simon & Schuster $33.75 million
Random House $33.5 million
HarperCollins $25.8 million
Macmillan $11.4 million
Wiley $11.2 million
Perseus $7.8 million
F+W Media $4.6 million
Houghton Mifflin Harcourt $4.4 million
Workman $4 million
McGraw-Hill $3.1 million
Pearson Education $2.8 million
NBN $2 million
Norton $2 million
Zondervan $1.9 million
Hay House $1.7 million
Elsevier Science $1.6 million
Publications Intl. $1.1 millionI'm wondering if this will have any effect on publishing deals in the near future?

Kitty Pryde
02-16-2011, 08:47 PM
List of closing stores:
http://s.wsj.net/public/resources/documents/st_borders0216_20110216.html

My local Borders is safe! I do try to go to Book Soup and Skylight Books, my awesome local bookstores, when I can. Though in my current state of brokeness, I'm usually inspired to go to Borders when they have a coupon.

erinbee
02-16-2011, 09:33 PM
From the Publishers Lunch email:
money owed to publishers
I'm wondering if this will have any effect on publishing deals in the near future?

Eric at Pimp My Novel (http://pimpmynovel.blogspot.com/2011/02/bankrupt.html) seems to think so:


Publishers may offer lower advances, especially on midlist titles. The industry has depended on Borders as a major market for new titles. If the publisher can't trust Borders to take a sufficiently large number of copies of a given title, this will factor into their profit and loss statements. As a result, they may advance less money to authors in order to increase the odds that any given acquired title will earn out.

Sheryl Nantus
02-16-2011, 09:34 PM
List of closing stores:
http://s.wsj.net/public/resources/documents/st_borders0216_20110216.html

My local Borders is safe! I do try to go to Book Soup and Skylight Books, my awesome local bookstores, when I can. Though in my current state of brokeness, I'm usually inspired to go to Borders when they have a coupon.

We're losing one in Monroeville, PA - we don't go there often, but it's going.

Along with one set in a mall in Erie... which, btw, is a stone's throw from not only a B&N but ALSO a full-blown stand-alone Borders around the corner. This is one of the stores that came under Borders' control when they absorbed another chain.

It's decisions like that, to keep a mall small store open in the middle of bookstore central, that got Borders where they are today.

Thankfully we're not losing the Greensburg store, but...

:Shrug:

Irysangel
02-16-2011, 10:40 PM
They're closing the big store nearest to me and a mid-sized one that I sometimes visit. That will leave me with...no Borders within an hour.

And I think it will definitely affect advances. How can it not? If Borders is 8-20% of the market, I expect advances to go down even further - probably by 25% just to be on the safe side, or more if the publisher is struggling to recoup the bad debt.

Jake.C
02-16-2011, 11:49 PM
I've never even seen a Borders or Barnes and Noble in the UK. All I've got is Waterstone's.

gothicangel
02-16-2011, 11:58 PM
I've never even seen a Borders or Barnes and Noble in the UK. All I've got is Waterstone's.

Borders went bust here December 2009. No B&N here, you may have Blackwell's if you live near a university town though.

*Cracking up because my first post read 'Borders went busty here in December 2009' :roll:

blacbird
02-17-2011, 12:02 AM
The only one we have in my town is closing. The next closest one is 2,000 miles away. I've never been in the place when it wasn't thronged with people and you didn't have to wait in line to check out. Makes you wonder about the upper level managing of this chain, doesn't it?

amyashley
02-17-2011, 12:23 AM
Although I can see how this might affect advances for say, a few months out of panic, I just don't get how it could really be a major issue.

Why would closing down even 20% of the market truly affect the CUSTOMERS? If they want books, they will buy books. Taking the stores away isn't going to stop them. Many of these stores are near competitors. Those stores should be seeing an increase in sales. Online stores should see an increase too. I would imagine that the publishers' initial panic might be unfounded. Personally, not having a particular bookstore doesn't stop me from buying the books I NEED. LOL

Although I can understand wanting to recoup the debt, that makes a great deal of sense; and I also feel terrible about the slow failing of a huge chain, this seems to be unclogging a hairy problem that's been dragging on for too long.

I hope that by closing these stores they are able to get back on their feet and the other chains out there benefit.

Irysangel
02-17-2011, 01:10 AM
Why would closing down even 20% of the market truly affect the CUSTOMERS? If they want books, they will buy books. Taking the stores away isn't going to stop them. Many of these stores are near competitors.


Because it's rare that a customer affects a book that's coming out inasmuch as distribution does. That's why it's going to affect things. Just about everything in publishing is based on how many copies you think stores will order. Lots of books move on sheer volume alone. Reduce that volume and you reduce everything across the board.

And while I agree that e-readers and Amazon/Book Depository/whoever will pick up some of the slack, there's still going to be a dip in print runs, and the according dip in advances. Mass Market is already seeing a hit because Wal-Mart recently decreased their orders by more than half of what they used to order. So now? Print runs are tumbling, which makes all MMPBs more expensive to produce, and publishers are cutting back their MMPB lines to accomodate for this. If you can only promote one book, and the stores only want two of them, what's the point of putting out 5 every month?

It's just going to keep contracting.

I'm not trying to be all gloom and doom, but it's definitely going to affect the industry. Will it kill it? Probably not. But it will change a lot of things, I think.

blacbird
02-17-2011, 02:52 AM
A pertinent story on this matter:

http://www.msnbc.msn.com/id/41625577/ns/business-consumer_news/

euclid
02-17-2011, 01:44 PM
The numbers are frightening. The commentary on Publishers Lunch is scathing in their assessment of Borders management plan to recover. The latest I read was that Borders applied to the court to use $400m of their $505m debtor-in-possession funding to continue in operation - without providing any budget (ie plan) for the recovery process. I think this is a company holed well below the waterline. I don't believe it will be saved. Between them, the publishers are owed an estimated $270m. Most of them are not prepared to ship any more books to Borders (not even on a COD basis), and one that is still shipping could be ordered by the court to return any money received for any shipments made after the bankruptcy filing.

Publishers Lunch estimate that one third to one half of Borders' business will be absorbed by other disributors; the remainder will disappear.

Over here, in Ireland, recently, we lost Hughes and Hughes, a big high street firm with 10 or 12 outlets. Waterstones are closing their two stores in Dublin city centre, and Kennys in Galway have switched to an online operation modelled on The Book Depository.

The figures also show a seismic shift from paper to electronic sales which is at the core of the problem.

euclid
02-17-2011, 03:26 PM
I'm wondering how much this is going to impact writers. Presumably, if the publishers are not being paid for books sold, then the publishers won't be able to pay the authors.

Ineti
02-17-2011, 07:00 PM
I'm wondering how much this is going to impact writers. Presumably, if the publishers are not being paid for books sold, then the publishers won't be able to pay the authors.

Good timing on this question. C.E. Petit offered some potential impacts to writers on his blog: http://scrivenerserror.blogspot.com/. Gotta dig a bit in the post, but a lot of good content there to consider.

amyashley
02-17-2011, 08:03 PM
It is interesting. I wonder if this will force some shifts in the industry that have been needing to happen. I know some of it is sad and awful, but perhaps in the end it will turn out to be a positive thing. I think in 12 months or so we will see a very different model of business. I could be wrong.

DreamWeaver
02-17-2011, 10:05 PM
Makes you wonder about the upper level managing of this chain, doesn't it? If you'd worked there, you wouldn't be wondering, you'd be d*mn near certain.

I personally and probably illogically blame Harvard Business School, for perpetuating the myth that if one can manage one business, one can manage any business. Your head would spin if you saw some of the book-industry ignorance that flourished after Borders put an executive from a grocery chain in charge...

Bubastes
02-17-2011, 10:10 PM
I personally and probably illogically blame Harvard Business School, for perpetuating the myth that if one can manage one business, one can manage any business. Your head would spin if you saw some of the book-industry ignorance that flourished after Borders put an executive from a grocery chain in charge...

This X 1000.

MaryMumsy
02-17-2011, 10:18 PM
In today's paper it said the three locations closest to me are all closing. The next closest one is a Walden and not that close. So I guess I'll be renewing my BN membership. At least there are three of those a reasonable distance away.

MM

Michael Drakich
02-17-2011, 10:54 PM
This is ugly stuff going on, very ugly. Angus & Robertson in Australia just followed suit. Articles I have read are suggesting authors avoid Borders at all costs, you'll never get paid. Tracking ebook sales is almost impossible. In the end, it is we, the writers who will get it in the rear. Big publishing houses are dropping midling writers, small ones are offering ebook sales only. One article I read says the best solution is for all writers to go independant, set up as your own publisher. It's apparently easier than most think and you keep it all. God, the transition is going to be murderous!

DreamWeaver
02-17-2011, 11:19 PM
It's apparently easier than most think and you keep it all. Extremely easy to do, exceedingly hard to do well, and even harder to succeed at, for values of "succeed" that go beyond Yippee! My Book Is Available For Sale.

I can vouch for extremely easy to do, I can extrapolate exceedingly hard to do well by reading the on-line blurbs for a random sample of self-published ebooks. Note I didn't say impossible to succeed at, just that it's hard. Success, of course, means different things to different people. Some authors who self-identify as "successful" seem satisfied with YMBIAFS. I, given no advance, would want to be pulling in annual royalties in the four figures. Someone else might be looking to make a living wage (which, I admit, would be Really Nice).

To relate this to Borders, it was surely a huge misstep that at first they partnered with their worst nemesis for on-line sales. Then when Borders *did* set up their own online presence, I'm pretty sure they didn't invest in the kind of computing talent that Amazon does. My friend's son finished his master's degree in Computer Science with national level recognition and a few summers of on-the-job experience in the tech industry. He had four or five Fortune 500 companies bidding to hire him. He went with Amazon.

blacbird
02-18-2011, 01:34 AM
I personally and probably illogically blame Harvard Business School, for perpetuating the myth that if one can manage one business, one can manage any business.

Absolutely correct here. Think of the disaster John Sculley was at Apple, after being CEO of Pepsi-Cola. Even he now admits that he didn't know what he was doing at Apple, and he says when he left, the company was within weeks of insolvency and bankruptcy.

euclid
02-18-2011, 02:07 PM
Scary, really scary stuff. What a terrible time to be trying to get a debut novel published, or even represented!

*I'm off to make a cup of coffee*

BarbaraKE
02-18-2011, 05:32 PM
I think this is a great time to be a writer (especially a debut writer).

On the other hand, I'd hate to be a publisher.

On a $25.00 book, how much does the author see? $2.50? $3.75? No more than that (minus 15% to the agent). The vast majority of the money is eaten up by entities (publishers, bookbinders, transportation, books stores, etc.) that basically do nothing to change/improve the actual product (the written words). But they end up with most of the money.

Electronic books are the future. And that's good for writers because they can then keep a much bigger chunk of the pie.

Yes, there will be problems. Yes, some people will be hurt. But it's inevitable.

And I have one question for people who think (physical) books will always be around. How many music cassettes/8-tracks/LPs/VHS tapes do you think were produced last year?

Torgo
02-18-2011, 05:52 PM
On a $25.00 book, how much does the author see? $2.50? $3.75? No more than that (minus 15% to the agent). The vast majority of the money is eaten up by entities (publishers, bookbinders, transportation, books stores, etc.) that basically do nothing to change/improve the actual product (the written words). But they end up with most of the money.

As an editor, I feel we do improve the written words from time to time. There's the gatekeeper/curator aspect to what publishers do, as well, which we all benefit from as consumers; I don't really want to try to buy books in a world without publishers filtering for quality. (For a glimpse into that world, check out PA's website and try to imagine finding something you'd like to read.)

veinglory
02-18-2011, 07:08 PM
I don't dwell so much on how much the publisher ends up with as a percentage, but on how much I end up with as a lump sum. Large presses typical still pay authors a lot more because the do a lot more, which is what their cut pays for. Besides, any balance sheet I have seen shows that their actual free and clear profit is around 2% of cover--far less than the author gets. And I say this as a predominantly epublished author, not an axe-grinder.

Collectonian
02-18-2011, 08:01 PM
Yes, there will be problems. Yes, some people will be hurt. But it's inevitable.

And I have one question for people who think (physical) books will always be around. How many music cassettes/8-tracks/LPs/VHS tapes do you think were produced last year?

No, it isn't "inevitable" and yes, I do believe physical books will always be around. You ask on old styles of medium, however they are very different things. Whether in the form of a cassette, 8-track, etc, the visceral experience of the music doesn't change greatly perhaps having a greater amount of auditory detail. The visceral experience of music or a movie doesn't depend on the media (other than the difference between a movie at home and on the big screen) as they have no sounds nor feel. The equipment can enhance it, but it doesn't take it away. And yes, older forms aren't being produced, but you can still buy record players (at $200 a pop even) at Target, and of course music CDs are still made, and movies are still released on both DVD and Blu-Ray, despite the availability of Netflix, Hulu, and other streaming services.

A digital book does NOT offer the same visceral experience as a physical book. They don't have the same feel, smell, sounds, etc that you get while reading a physical book. Those who just want to read the story who don't care about those experiences will probably go to eBook readers, for SOME books. The other sticking point is not all books are available on eBook readers. Go to a used book store, browse the shelves, find some titles you want, then try to find them in eBook form. There are wonderful classics that also are not available in eBook because they are not in the public domain yet and copies are so rare that the few services that do the public domain stuff probably don't have them.

willietheshakes
02-18-2011, 09:56 PM
I think this is a great time to be a writer (especially a debut writer).

On the other hand, I'd hate to be a publisher.

On a $25.00 book, how much does the author see? $2.50? $3.75? No more than that (minus 15% to the agent). The vast majority of the money is eaten up by entities (publishers, bookbinders, transportation, books stores, etc.) that basically do nothing to change/improve the actual product (the written words). But they end up with most of the money.

Electronic books are the future. And that's good for writers because they can then keep a much bigger chunk of the pie.

Yes, there will be problems. Yes, some people will be hurt. But it's inevitable.

And I have one question for people who think (physical) books will always be around. How many music cassettes/8-tracks/LPs/VHS tapes do you think were produced last year?

If you're wondering, in the future, the bolded sentence is where I stopped reading.

BarbaraKE
02-19-2011, 02:31 AM
As an editor, I feel we do improve the written words from time to time. There's the gatekeeper/curator aspect to what publishers do, as well, which we all benefit from as consumers; I don't really want to try to buy books in a world without publishers filtering for quality. (For a glimpse into that world, check out PA's website and try to imagine finding something you'd like to read.)

I'm not dismissing 'editors' (truly I'm not). A good editor can be invaluable. But 'editor' can (and should) be separate from 'publisher'.

As for the 'gatekeeper' aspect, you have a point. Now. But that will change. I don't buy books based on who publishes them, I go by reviews by individuals (whether on Amazon or people I know). (Same with movies, byw.)



No, it isn't "inevitable" and yes, I do believe physical books will always be around. You ask on old styles of medium, however they are very different things. Whether in the form of a cassette, 8-track, etc, the visceral experience of the music doesn't change greatly perhaps having a greater amount of auditory detail. The visceral experience of music or a movie doesn't depend on the media (other than the difference between a movie at home and on the big screen) as they have no sounds nor feel.
<snip>
A digital book does NOT offer the same visceral experience as a physical book.


I know people who used to say the same thing about LPs. (I guess that's one of the advantages of age <grin>)

And I don't understand how you can say music/movies 'have no sounds nor feel'. Books do??



If you're wondering, in the future, the bolded sentence is where I stopped reading.


Why?? That's like someone saying "I didn't like the book". Not very useful unless they can give a reason why.



Besides, any balance sheet I have seen shows that their actual free and clear profit is around 2% of cover--far less than the author gets.


You know that that is bookkeeping, right? It's like me saying "I'll mow your lawn for $1,000. After all my expenses (wear-and-tear on my lawnmower, expenses for me to travel to your house, Social Security taxes, workmen's comp, etc. etc., and, oh yes, my $900 salary ), my 'profit' is only $10. That doesn't mean the $1,000 I'm charging you is fair.

'Profit' can be a very elastic number. (Who was the movie house that claimed they didn't make any 'profit' from the original 'Spiderman'. Stan Winston (creator of the Spiderman character) actually had to sue them to get the share of the 'profits' he was legally entitled to.)

Soccer Mom
02-19-2011, 02:55 AM
Let's keep this a discussion about Borders and the business of publishing without degenerating into an ebooksareevil/ebooksaresalvation debate.

Thanks.

willietheshakes
02-19-2011, 04:50 AM
Why?? That's like someone saying "I didn't like the book". Not very useful unless they can give a reason why.


Because the notion that publishers and bookstores -- for a start -- do nothing for the work is insulting, and lacks any basis in fact.
And yes, as a bookseller, I choose to take it very personally.



Stan Winston (creator of the Spiderman character)

That'd be Stan Lee who created Spiderman.

Sage
02-19-2011, 06:07 AM
List of closing stores:
http://s.wsj.net/public/resources/documents/st_borders0216_20110216.html

My local Borders is safe! I do try to go to Book Soup and Skylight Books, my awesome local bookstores, when I can. Though in my current state of brokeness, I'm usually inspired to go to Borders when they have a coupon.
Dammit, I'm losing both of mine. :cry:

Shadow_Ferret
02-19-2011, 06:22 AM
I think the end is in sight for the business of selling books/CDs/DVDs on the high street, though.

The day they stop selling books in stores is the day I'll become a total recluse and just live with the books I have.

Scribhneoir
02-19-2011, 06:55 AM
List of closing stores:
http://s.wsj.net/public/resources/documents/st_borders0216_20110216.html



The two closest to me are safe. Whew! I prefer Borders to B&N, so I'm happy I won't have to change my habits. At least for now. I'd love to support some indies, too, but the only indies around here are Christian, which isn't my cup of tea.

elindsen
02-19-2011, 07:43 AM
YAY!!! Keeping my Borders. Although, I buy all my books from Wal-mart...

Soccer Mom
02-19-2011, 08:25 AM
Dammit. My Borders is closing. That means it's either Amazon or an hour and a half to B&N if I want something in print.

BenPanced
02-19-2011, 08:36 AM
A list of independent alternatives to Borders. (http://www.edrants.com/list-of-independent-alternatives-to-closed-borders-bookstores/)

blacbird
02-19-2011, 09:47 AM
Even though I frequented the Borders store in my town (which is on the death list), it was never as pleasant as the B&N four miles or so away. It was just closer to my house. In my observation, they were as interested in selling coffee cups and chocolates and calendars and other doodads as they were in selling books. Maybe more so. Plus an entire floor devoted to music cd's, which I'm pretty sure turned into a financial disaster. And that was a decision made at "corporate", over which the local managers had no say whatever.

B&N has its own problems, but their music department is about the size of my garage, and the other doodads, while there, take up much less floor space.

Whatever the corporate business strategy has been for Borders, it just plain sucks and is at the epicenter of why they've gone into bankruptcy.

Scribhneoir
02-19-2011, 10:02 AM
A list of independent alternatives to Borders. (http://www.edrants.com/list-of-independent-alternatives-to-closed-borders-bookstores/)

The problem with this list, judging from those "independent alternatives" in my area that I'm familiar with, is that the alternatives are almost all used book stores. I love and adore used book stores, but they aren't sellers of new books and thus not truly a replacement for a closed Borders.

ETA: just got an e-mail from Borders inviting me to the liquidation sale at the closest closing Borders to me. Everything 20-40% off starting tomorrow -- all sales final -- no checks. Very sad.

Sirion
02-19-2011, 11:33 AM
A poorly run company goes under and people immediately start shouting "it's the death of brick and mortar bookstores!"

Keep repeating it all you want, it will never happen.

It is unfortunate, but Borders made a hole for itself, and now it's got to sleep in it. Badly run businesses SHOULD fail.

Soccer Mom
02-20-2011, 07:26 AM
A list of independent alternatives to Borders. (http://www.edrants.com/list-of-independent-alternatives-to-closed-borders-bookstores/)


Odd list. How did Half Price Books become an "independent" bookstore? The Book Rack is also a chain. Both are stores where you trade in used books and buy more used books. Sadly, those are the two "Indie" stores it lists as possible alternatives. One all the way across FW from me and the other across Arlington. :(

Torgo
02-21-2011, 02:24 PM
A poorly run company goes under and people immediately start shouting "it's the death of brick and mortar bookstores!"

Keep repeating it all you want, it will never happen.

It is unfortunate, but Borders made a hole for itself, and now it's got to sleep in it. Badly run businesses SHOULD fail.

That sounds like a wager to me!

Shall we discuss the terms of a long bet (http://www.longbets.org/agreement)?

euclid
02-22-2011, 09:09 PM
Barnes & Noble results were published today. Sales are up, but profits are down. The next dividend will be witheld. Shares were down on the news.

They also note that their sales of ebooks exceeded sales of paper books for the first time. I think the writing is on the wall, the fat lady has cleared her throat, and the train has left the station.