Wednesday, February 16, 2011

Heads up! Borders Has Filed Bankruptcy!

We knew it was going to happen sometime this week. Borders has filed for bankruptcy. Let's not panic yet, this doesn't mean all Borders stores are going to disappear. Just 200 or so.

According to one website,
"The pioneer of book superstores plans to abandon some of its highest profile locations, closing a store in its hometown of Ann Arbor, Michigan, as well as one on Manhattan's Park Avenue.  All 200 closings will be superstores, and about 6,000 jobs will be affected, the company said.... The closings will start by Saturday*. The company said it will honor gift cards." (Source)

As a reader, I buy my books at a number of places. Usually, it depends on where I'm working at the time, what's closest location-wise, and who has the best discount! We have two Borders located next to our house, one being a superstore.

Even though I work at the competition, I still make my way into Borders from time to time because they are a great store if you are looking for 'extra' stuff. For example, I love that they have a fun selection of anime related toys and candy. Occasionally, I'll find some really neat large print 'read out loud' children's books in their bargain section, too-- something I can't find at Barnes and Noble. Oh, and the t-shirts! I bought some very neat baby tee's there, one for Hunger Games and another for Fallen. These 'extra' items are what Barnes and Noble lacks and what I'll miss if they go under completely.

For more information about Borders filing, you can google it or check out the website Borders has started on it's reorganization.  

It is my hope that Barnes and Noble or other bookstores are helpful in finding work for those who are let go from Borders due to these store closings and will take an active interest in getting them back in the bookselling business, especially those who call bookselling their career!  

(*Just some clarification, I read this as they will start going ahead with closing plans starting as early as Saturday, not that they will close stores specifically on that day.)

EDIT: Closing Stores List HERE via Publishers Weekly.

What do you think of this news?


Erin said...

This is sad news for all book lovers, and especially sad news for those 6,000 families that will be affected! I live in MI, not too far from the store's hometown. So sad!

Thank you for sharing the information, though. I can't believe the stores are closing on Saturday! I think I still have a gift card around here somewhere that I need to go spend...

Quitting My Day Job

Brooke said...

Erin-- They probably won't close on
Saturday, but it reads (to me) that the company will start going ahead with plans to close stores with liquidation or whatever they deem fit. I think you still have time to use those giftcards!

Sarah said...

This is so sad :( Stupid e-readers are killing bookstores everywhere. Wish the govt. would bail out bookstores just like they did auto companies...

I REALLY, REALLY hope that neither of the Borders near me are going to close. I love my BP+ membership!

Brooke said...

Sarah- I don't know if it's just e-readers that are causing the stir. I think cheap internet prices/free shipping have a lot to do with brick and mortar bookstores having trouble, too. They've posted a public list of stores they're closing so you should check it out!