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Economy

Borders Says It Will Shut Down All of Its Stores for Good

2011-07-19

Borders Group, the second-largest U.S. bookstore chain, said it has canceled an upcoming bankruptcy auction and will close its doors for good.

The company said in a statement Monday that it was unable to find a buyer willing to keep the company in operation and will sell itself to a group of liquidators led by Hilco Merchant Resources.

Borders' roughly 400 remaining stores will close, and nearly 11,000 jobs will be lost, according to the company.
An outdated business model. I love books and bookstores, but find it harder and harder to get to one. Much easier to order online or get a kindle. It is like the passing of the sailing ships to the steam ones, the end of a glorious era.

Posted by:DarthVader

#5 like my local B&N, but I get tired of walking past the Obama hagiographies. I generally (read 80%) buy my books on Amazon via Fred's link so he gets his beak wet. I have authors I like and whenever they offer something new, I get a pre-offer price. Works for me

Posted by: Frank G 2011-07-19 20:58

#4 Never could find a 1982 JanesFighting Ships at Borders or Barnes and Nobel. So, meh.

Posted by: S 2011-07-19 18:48

#3 The warehouse bestseller stores were effective at taking out small indy booksellers, because they could get better deals or lock them out from publishers entirely. They were not "nice" businesses, and most of what they sold was pop crap, so I am not particularly sad to see them go.

However, even though Amazon sells many books directly, it sells many more indirectly, from small book dealers around the country. So they also support these small guys.

For rare & valuable, Abebooks has a niche in that if you search for a book with them, they will keep at it. I got a hit for a rare paperback six months or more after I requested it.

Posted by: Anonymoose 2011-07-19 17:03

#2 Wonder if the smaller bookstores will see a revival now that the giants are dying, or if Amazon and the internet has effectively killed most of them. I still enjoy browsing for books I've never heard of. Amazon is not the best place for that kind of purchase.

Posted by: rjschwarz 2011-07-19 14:51

#1 One of the goals of the progressive (hah!) Left is a world without Borders, so this should be a good thing, right?

Besides, reading leads to thinking and who knows where that will take you.

Posted by: SteveS 2011-07-19 12:52

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