Borders files for Chapter 11 bankruptcy protection
ANN ARBOR, Mich.
Borders Group is filing for Chapter 11 bankruptcy reorganization after a long struggle to stay afloat as the book and music businesses changed beneath its feet.
The 40-year-old company plans to close about 30 percent of its stores, or about 200, over the next few weeks.
The company will receive $505 million in so-called debtor-in-possession financing from GE Capital and others to help it reorganize.
Big-box bookstores have struggled as more people buy books online, in electronic form or at grocery stores or discounters such as Walmart.
Currently playing with a rooted/hacked version of the barnes and noble nook color I bought from Barnes and Noble 2 weeks ago, I hope other book stores don't share the same fate
ANN ARBOR, Mich.
Borders Group is filing for Chapter 11 bankruptcy reorganization after a long struggle to stay afloat as the book and music businesses changed beneath its feet.
The 40-year-old company plans to close about 30 percent of its stores, or about 200, over the next few weeks.
The company will receive $505 million in so-called debtor-in-possession financing from GE Capital and others to help it reorganize.
Big-box bookstores have struggled as more people buy books online, in electronic form or at grocery stores or discounters such as Walmart.
Currently playing with a rooted/hacked version of the barnes and noble nook color I bought from Barnes and Noble 2 weeks ago, I hope other book stores don't share the same fate
I've grown up on Borders and will continue to support them with paper purchases. I would have loved to have gotten my e-reader there but the Kobo just didn't seem to be what I was looking for.
They really got hit hard on the e-reader revolution. They lagged way behind. By the time they tried to get word out that they had one too, "Nook" was already on everyone's lips. Somebody at Borders really dropped the ball when it came to getting an e-reader segment of the business rolling.
I hope they can recover fully.
But wine was the great assassin of both tradition and propriety...
-Brandon Sanderson, The Way of Kings
-Brandon Sanderson, The Way of Kings
Borders (chain bookstore) files for bankruptcy, will close some stores, and restructure
- 17/02/2011 06:58:36 PM
955 Views
The only book store I have near me is a Borders.
- 17/02/2011 07:01:25 PM
614 Views
You should move to Edinburgh
- 17/02/2011 09:15:45 PM
619 Views
Uh, no it doesn't.
- 18/02/2011 12:54:43 PM
715 Views
Wales doesn't count. *NM*
- 18/02/2011 12:56:24 PM
330 Views
It's a natural evolution.
- 17/02/2011 07:14:29 PM
653 Views
It's not just bookstores.
- 17/02/2011 08:55:32 PM
612 Views
Most brick-and-mortar stores don't excel in personal customer service.
- 17/02/2011 09:57:07 PM
615 Views
Re: Most brick-and-mortar stores don't excel in personal customer service.
- 18/02/2011 01:38:27 AM
663 Views
Re: Most brick-and-mortar stores don't excel in personal customer service.
- 18/02/2011 02:50:06 AM
602 Views
You are the exception though, at least in terms of the book selection.
- 18/02/2011 02:21:46 PM
707 Views
I am not a fan of chain bookstores
- 17/02/2011 07:43:08 PM
646 Views
I actually prefer the chains.
- 17/02/2011 09:12:05 PM
589 Views
``Consistent experiences'' are the bane of my existence
- 17/02/2011 09:14:24 PM
524 Views
Have you seen Dave Gorman's America Unchained?
- 18/02/2011 11:48:50 AM
637 Views
5 of the 6 Borders stores near me are closing, and, I have to say, I'm not a bit upset.
- 17/02/2011 09:23:01 PM
670 Views
*NM*
B&N tends to have the better selection for my tastes, but I prefer Border's atmosphere. *NM*
- 18/02/2011 02:17:49 PM
464 Views
As a Michigander I am pretty bummed. 
- 18/02/2011 04:49:35 AM
619 Views
- 18/02/2011 04:49:35 AM
619 Views