Borders Bankruptcy

[matt819]

Much has been written about the Borders bankruptcy. Some are gleeful, some saddened. They treated workers well; they were virulently anti-union.

I've always marveled at how bookstores, any bookstores, stay in business, so I suppose it's no wonder that the prevailing wisdom is that Borders didn't respond quickly enough to market forces, etc., etc.

Who knows? I'm sure that books will be written, and those books will almost certainly be promoted by the Indies and sold primarily on Amazon.

But that's neither here nor there.

I popped into my local Borders to see what I might want to pick up at fire sale prices. Magazines were 40% off, which wasn't really enough for me to pick up the latest tattoo magazine, though it was the best sale price going. Bestsellers and most fiction, hardcover and paperback, were 10% off, business books 30% off. All I can say about this is that even in bankruptcy Borders still doesn't get it. I can buy any of these books from Amazon or Abebooks for 10% off every day. Most of these books are discounted further, and used (like new, etc.) are available for even deeper discounts. I do buy stuff locally because of good service or loyalty to a particular business (I've bought all of my cameras and video cameras in the past ten years from one local store, even though I could have saved hundreds by buying from Amazon, for example), but when it comes to books, I have to tell you that I look for price, and it's remarkable that even Border's fire sale prices are higher than I can find in a 10-second search online.

[AsahinaKimi]

1. My best friend worked at Borders for nine years

Down in LA. She is just about, within weeks, to run out of her unemployment Insurance. She has a great resume, and still can't find any kind of job. She is either over qualified or she is doesn't have enough experience. You would think some company would pick her up...but despite all the ads, there are no takers. I hope she can get an extension and will apply for food stamps as well. She is only 26 and should have a good future, if someone picks her up.

[sudopod]

2. Reminds me of when CompUSA went down.

I was there for 5 minutes during the going out of business sale and was laughing by the time we were going out the door.

10% off! Fetch me mah smelling salts!

[Romulox]

3. "Borders" is gone. You are describing a liquidation taking place at the behest of creditors

and under the supervision of bankruptcy court.

"Borders still doesn't get it."

There's nothing to "get". Borders isn't a going concern anymore. The creditors will get whatever the sale generates. Whatever it doesn't generate will be the creditors' loss.

[leveymg]

4. Borders would be perfect if the local library took it over and left it just the way it was, but free

[onenote]

5. What day did you go to Borders?

[Adsos Letter]

6. I utilize Amazon's independent sellers several times per month

I get great prices on used/like new History books, often obscure monographs, and I figure I'm supporting someone's local business.