Borders Books going under?

[markem]

This was just posted on the website for a local news station.

PORTLAND, Ore. -- If you received a gift card for Borders Books over the holidays, you may want to use it right now.

The company spokespersons still swear everything is fine. However, there are some big red flags that the book chain is moving closer to its final chapter.

Two top executives just resigned, and Borders is now delaying payment to its biggest vendors. Some publishing houses also have stopped shipping books to the company.

(http://portlandcitycenter.katu.com/content/borders-brink)

[Zeuceone]

A few stores around here closed down some time ago.

[icehog3]

I heard on the business report on my local news radio that they are not going to be around much longer.

[Commander Quan]

It's the republican's fault they wanted to close all the borders :tf












This was a joke, relax.
-CQ

[mariogolbee]

But then my daughter and I will never have a use for our Border's Bonus Promo Fluxx card...
:sad
It looks like such a fun card, too.

http://store.looneylabs.com/Borders-Bonus?sc=2&category=1579

[thebayratt]

I saw that comming last year. They closed down two in my area.
The main bookstore is Books A Million in my area. They had 2 right across the street at two different malls. Now there is only one.
Its kind of funny how a bookstore promotes and e-reader (or whatever the electronic book thing is).... hopefullly they sell the e-books too for those contraptions!

[jledou]

Closed down one hear last year.
It is hard to see that they can't make any money but I am sure with the increase in digital readers the need for physical book stores is decreasing. Add that to the economy and the presence of used books stores in large markets and it will eat into your bottom line if you don't change your business model.

[Bunker]

What - you mean people don't want to pay $24 plus tax for a book they can buy buy online for $12 (or electronically for even less)?

The internet killed the book business the same way it is killing the printed newspaper.

The only reason Barnes & Noble has survived this long is because it came out with the Nook that can compete with the Amazon Kindle.

[Slow Triathlete]

They closed most of the ones here in NC a few years ago. I wasn't aware that they were still in business at all.

[hscmit]

you can still get books for free at the library

[jmsremax]

I agree that Amazon has killed Borders and B&N, but Borders sends me emails at least once a week with 33% or 40% off one item which I tend to use when I nwant a book. Don't get me wrong I do like Amazon, but I try to buy books at Borders because they are right downtown and it's nice to have a bookstore to browse every once in awhile...so my money goes to them. It will be sad when they go under.

[BSB]

I like Borders and I use those coupons, too. Be sad to see them go.

[BlackDog]

I believe this is true. The man who used to be the CEO of my company (Ron Marshall) left here to become the CEO at Boarders. They were in a sad situation before he went to them, and the situation did not improve. They over-built stores at a time when people's book buying habits dramatically changed.

Here is a bulletin board of people who have some stake or insight into Borders. It ain't pretty.

http://messages.finance.yahoo.com/mb/BGP

[jledou]

I like borders and will tend to buy from them using a coupon when feasible but I think more than amazon it has been the kindle, nook, ipad etc that is hurting them. It is really hard to justify $28 for the new hardback from Borders (or any store) when I can wait and get it cheaper used or electronically.

Really this is something that the traditional media cannons (books, movies and music) are having to deal with. How do you justify the price when you no longer have the cost involved?