Posted on 07/18/2011 2:43:56 PM PDT by Hojczyk
Bankrupt Borders Group Inc said it has canceled its auction and will sell itself to a group of liquidators.
Borders announced the decision on Monday, saying it was not able to reach a deal for a going-concern sale to salvage its 400 remaining stores and 11,000 jobs.
A liquidation group led by Hilco Merchant Resources will begin liquidations as early as Friday, Borders said in a statement. The bookseller will seek bankruptcy court approval of the closing procedures at a hearing set for Thursday.
(Excerpt) Read more at finance.yahoo.com ...
I love books....this is sad news.
Oddly enough, I am at Borders now on my laptop.
It took about three minutes to connect to their WiFi.
I go into the local A&P, which has a Starbucks within,
and I’m automatically connected the second I turn the laptop
on. Aside from ‘connectivity’ I don’t know what Borders’ problem is, except that they lag WAAAAAY behind Barnes and Noble in just about every category.
I guess I won’t be renewing my Borders Plus card at the end of the month as I planned.
and 11,000 jobs
The one in my neighborhood hosted a weekly Wiccan club meeting.
Wow, I was a bookstore employee for many years in college and after. I guess they are the new buggy whips, not even worth reorganization, traight to liquidation. Think of the book glut.
Is Barnes and Noble, that much better.
Meanwhile, Half-Price Books are doing brisk business here in D/FW.
I hate to see the bookstores go the way of the dodo, but Kindle will not be stopped.
I used to go to Border’s on a regular basis because it was easier to get pulp/serial fiction. It’s always stocked and the books are out on release dates.
However, I got a Kindle and get get my leisure reading on that.
I do frequent a B&N because the cookbook section is better organized and I buy cookbooks from them because of it. They also sell a lot less side junk (calendars, stationary, etc) that eats up real estate.
I used to go to Border’s on a regular basis because it was easier to get pulp/serial fiction. It’s always stocked and the books are out on release dates.
However, I got a Kindle and get get my leisure reading on that.
I do frequent a B&N because the cookbook section is better organized and I buy cookbooks from them because of it. They also sell a lot less side junk (calendars, stationary, etc) that eats up real estate.
I used to love to raid the “bargain bin” at my local Borders. Be sorry to see them go.
What does Wiccan meetings have to do with the left? A witch is not necessarily evil. There have been good and bad witches through the milennia.
I browse at Borders and Barnes and Noble, but buy on Amazon. I feel guilty about it, but its a hard sell when you’re books cost 2X as much + sales tax. Ironically, the only bookstores to survive will likely be the Mom & Pop used book shops.
The “other formats” won’t last as long as Sears catalogs from a hundred years ago, and in a couple of dozen years, or 50, if you’re an optimist will not be readable at all.
You're kidding, right?
I love VHS tapes, this is sad news.
I'm gonna head down there and see what I can score.
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