Borders Books May File For Bankruptcy: Update: Total Closing

Discussion in 'Current Events' started by gkarris, Feb 1, 2011.

  1. gkarris, Feb 1, 2011
    Last edited: Jul 19, 2011

    gkarris macrumors 604

    gkarris

    Joined:
    Dec 31, 2004
    Location:
    "No escape from Reality..."
  2. MacNut macrumors Core

    MacNut

    Joined:
    Jan 4, 2002
    Location:
    CT
  3. jav6454 macrumors P6

    jav6454

    Joined:
    Nov 14, 2007
    Location:
    1 Geostationary Tower Plaza
    #3
    Not surprising with Amazon and Barnes & Nobles picking up a huge chunk of an already weak market.
     
  4. Moyank24 macrumors 601

    Moyank24

    Joined:
    Aug 31, 2009
    Location:
    in a New York State of mind
    #4
    Definitely a shame. I used to spend a lot of time and money at Borders, but I haven't gone there in ages. I still read a ton, but only e-books.
     
  5. ender land macrumors 6502a

    Joined:
    Oct 26, 2010
    #5
    Online business just destroys overpriced physical stores :(
     
  6. Lord Blackadder macrumors G5

    Lord Blackadder

    Joined:
    May 7, 2004
    Location:
    Sod off
    #6
    I've bought a fair number of books over the years from Amazon, but they are the bane of brick and mortar book stores, so I try to avoid them when possible.

    I shudder at the thought of most book stores being driven out of business by Amazon, even the big boys like Border's and Barnes & Noble. They are still good places to go to look for occasional sales, relatively cheap classics or for the latest bestsellers.

    With that being said, I buy 90% of my books from used book stores, where I get them at 1/2 to 1/10th the price.
     
  7. ravenvii macrumors 604

    ravenvii

    Joined:
    Mar 17, 2004
    Location:
    Melenkurion Skyweir
    #7
    Same here. Grew up going to Borders to browse (and buy) books and drink coffee.

    A shame, that's for sure.
     
  8. Tailpike1153 macrumors 6502a

    Tailpike1153

    Joined:
    Aug 31, 2004
    Location:
    Bellevue, WA
    #8
    Physical stores have that instant gratification factor. That is so awesome. The smell of new books is awesome. The coffee shops and wifi definitely added to the atmosphere. Left would be really different if Borders closes. But since thread says "may file for bankruptcy," I cross my fingers that it just means the company is trying to balance out debt, etc.
     
  9. Lord Blackadder macrumors G5

    Lord Blackadder

    Joined:
    May 7, 2004
    Location:
    Sod off
    #9
    I wouldn't get too nostalgic about Borders...they are, after all, just a big chain with overpriced coffee and books and (last time I visited one anyways) they charged for internet useage. If they do go under, others will take their place.

    The best book shops are the used bookstores with reasonably priced coffee and free internet. The big chains have their place though.
     
  10. Rt&Dzine macrumors 6502a

    Rt&Dzine

    Joined:
    Oct 8, 2008
    #10
    It's telling when you get nostalgic for big chain stores. Book stores are on the way out, that seems to be certain.
     
  11. rdowns macrumors Penryn

    rdowns

    Joined:
    Jul 11, 2003
    #11
    No surprise here. They've been in deep financial straits for a while now. Sadly, book stores are a relic of the past. Take a look at how much non-book inventory they now carry. Coffee bars, games, CDs, DVDs and a bunch of other crap.

    Look around. Lots of people killing time until their next appointment, using it as a library or drinking coffee and using free Wifi. No one is buying.

    Aside of Amazon, Walmart and Target are hurting book sellers too.
     
  12. Lord Blackadder macrumors G5

    Lord Blackadder

    Joined:
    May 7, 2004
    Location:
    Sod off
    #12
    This is partially true - the internet is killing the big booksellers' brick and mortar stores, and the big department store behemoths (and grovcery stores) have picked up the magazine/trash dime novel/newspaper business.

    But there will always be a strong market for used books. That's where the real bibliophiles go anyway, and more of these stores are doing the coffee thing as well. I don't think the internet will ever kill those. Especially because such stores often do a brisk trade in reselling classic literature and textbooks/technical books dumped off by ex-students. Some also sell unsold lots of books from the big chains at a huge discount.
     
  13. Rt&Dzine macrumors 6502a

    Rt&Dzine

    Joined:
    Oct 8, 2008
    #13
    The used book stores around me aren't doing well. Most have gone out of business. There's one I can think of that's still going but they do most of their business online and almost seem annoyed when customers walk in their store.
     
  14. Lord Blackadder macrumors G5

    Lord Blackadder

    Joined:
    May 7, 2004
    Location:
    Sod off
    #14
    The bookstores/coffehouses I encountered while living in NY/OH/AK in the last several years are all doing quite well, and are usually busy. Lots of people go there and sell books, and while prices are low the volume is pretty high. They aren't huge operations, but they seem healthy.
     
  15. thejadedmonkey macrumors 604

    thejadedmonkey

    Joined:
    May 28, 2005
    Location:
    Pa
    #15
    Not surprised, last Christmas (like 14 months ago) they owed 94% of their equity in debt. Since then they've only slashed prices while sales decreased overall due to e-book/online stores.

    Honestly, I'm surprised they remained afloat for so long.
     
  16. balamw Moderator

    balamw

    Staff Member

    Joined:
    Aug 16, 2005
    Location:
    New England
    #16
    Me too. Went to one for the first time in a while around Christmas and it had the stink of death already.

    B
     
  17. Lord Blackadder macrumors G5

    Lord Blackadder

    Joined:
    May 7, 2004
    Location:
    Sod off
    #17
    There are 500 locations though, and if they do go into bankruptcy they'll probably come out with several hundred stores left. I don't think they'll disappear altogether.
     
  18. ucfgrad93 macrumors P6

    ucfgrad93

    Joined:
    Aug 17, 2007
    Location:
    Colorado
    #18
    Instant gratification is downloading a book to my Kindle in a minute. Not to mention many Kindle books are cheaper than the physical books. My wife bought me (physical books) Decision Points and Broke for Christmas. I returned them both and bought them both for my Kindle for less than what she paid for one of the physical books.
     
  19. Lord Blackadder macrumors G5

    Lord Blackadder

    Joined:
    May 7, 2004
    Location:
    Sod off
    #19
    Call me a luddite, but I prefer the physical article. Still, I think readers like the Kindle are pretty cool. I'm not sure how much of an impact they will have on book sales though.
     
  20. Rodimus Prime macrumors G4

    Rodimus Prime

    Joined:
    Oct 9, 2006
    #20
    I know the only physical books I still by are comic books and textbooks since Ebooks just do not work as well on those.

    Biggest reason is not the cost but because books take up a lot of space. I have boxes full of books that I have bought and have no room to store. That my night stand has books just stack up on it and that is just from my re-reading. Right now a kindle is on the top of that stack and it is holding plenty of other books in it.
     
  21. balamw Moderator

    balamw

    Staff Member

    Joined:
    Aug 16, 2005
    Location:
    New England
    #21
    Neither do I, but the location near me is too close to the largest Barnes and Noble location outside of New York. While the Borders seems to be dying, the BN seems to be thriving.

    Before iTunes, and after I left the Boston area, Borders was where I discovered many of my favorite CDs just browsing through the stacks. They really pioneered the books, music and more approach.

    B
     
  22. Lord Blackadder macrumors G5

    Lord Blackadder

    Joined:
    May 7, 2004
    Location:
    Sod off
    #22
    It's like Kmart and Wal-Mart. In my town, Barnes & Noble built a store within a mile of every Borders location, essentially letting Borders do the R&D for store locations. I imagine that after Borders abandon 100-200 locations, they will start making money again.
     
  23. Huntn macrumors G5

    Huntn

    Joined:
    May 5, 2008
    Location:
    The Misty Mountains
    #23
    There are books and there are electronic books and I predict those who specialize in exclusive brick and mortar book stores will be severely disadvantaged over cloud stores not unsimiliar to the way Blockbuster has been run over by Netflix. One distribution warehouse is much less expensive than a hundred retail locations (referencing one metro area).
     
  24. balamw Moderator

    balamw

    Staff Member

    Joined:
    Aug 16, 2005
    Location:
    New England
    #24
    FWIW Our BN highlights the Nook right at the entrance to the store, but even the Borders/Kobo partnership was too. Bring your Nook to a B&M BN and you can read any book in their inventory for an hour per day. (While sipping your coffee from the in-store Starbucks).

    B
     
  25. senseless macrumors 68000

    senseless

    Joined:
    Apr 23, 2008
    Location:
    Pennsylvania, USA
    #25
    Wow; stock is down 95% in a year, so this could happen.
     

Share This Page