Borders was hoping for a satisfactory resolution - a shark - to bail them out so they could stay in business or transition to a new owner. The deadline for an answer was last night. Nothing came today either.
They had hoped another book retailer would want at least some of their locations and business. It's not to be.
Beginning as soon as this Friday, Borders will begin liquidating their holdings and cease operations.
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Steve Hoffacker - Consultant, Coach, Author, Blogger, Photographer, Motivator, Teacher, & Strategist - for Realtors, Real Estate Sales Professionals, Home Builders, New Home Salespeople, Entrepreneurs, Small Business Owners, and Independent Sales Representatives.
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With all the options available it must be very difficult for bookstores to stay in business. Sad to see them fail.
Hi Steve, I saw this in the evening news. This is a sad day for so many. The 17,000 who are now out of work, the loss of a great company and gathering place. An unfortuanate sign of our times. But, I believe that as Realtors we keep moving forward. Helping to keep our bit of the economy working.
Steve
At one point Borders bookstores were the #1 sellers of books in the county. The bookstore model of may DOA.
Good luck and success.
Lou Ludwig
I love Borders. It reminds me of my childhood, Our Borders was on State street in Ann Arbor. I would go in there and sit for hours and read. My neighbor, Mrs. Pollard worked there for years. When I think og Borders, my childhood comes alive. I'm so sad they are going away.
Ellie,
The bookstore climate is changing - big boxes are way too hard to maintain. :)
Steve
Colin,
It's sad, but it's business. They could have adjusted but did not. They may even reinvent themselves as a boutique store. :)
Steve
Lou,
Agreed. I have not been in a big box bookstore in 3 years. :)
Steve
Cindy,
I think the big box bookstore became more like libraries where people would gather and read for free. :)
Steve
Technology advances are no doubt forcing the need for businesses to remain competitive. The new-age consumer is a vastly different person these days.
Steve, Say it isn't so! I did not hear of the liquidation decision. I love Borders, one of the best places to go, sit, be surrounded by great books. Our local Borders was always very busy. More like a Starbucks with books. It is really too bad and I need to get my Borders visit in tomorrow. Thank you for the update.
I always liked Borders Steve. They shuttered the doors on the one in San Ramon earlier in the year. They will be missed.
Steve~ How much longer for Barnes and Noble's brick and mortar stores?
Amazon is just way too easy and affordable ...
It's too bad that bookstores are falling by the wayside. We have a Borders and Barnes and Noble right across the street from each other here in the Houston Bay Area. Barnes and Noble is always busier, but it might be because of the location. It's easier to get to, plus they have the coffee shop...
Steve, Thanks for sharing. I hadn't heard they will all be gone. My daughter just found their membership card in my wallet. Guess I can throw it away now.
Mike,
The big box model has failed several businesses. :)
Steve
Kathleen,
Just as you describe, it became more of a reading room than a retail store. :)
Steve
Doug,
Probably been in a Borders less than 10 times ever. :)
Steve
Donna,
They're on their way. :)
Steve
Carole and Laura,
Yes they are - and the airport stores and similar small footprint stores. :)
Steve
Rose,
The coffee shop is great for us but I'd say not too great for book sales. :)
Steve
Carla,
Definitely a collector's item. :)
Steve
Steve, we had Books-a-Million, Borders, and Barnes& Nobles on 3 corners of a major Intersection.
NONE of them remain today.
In this age of the internet, ipad and kindle make the big-box book stores difficult to maintain! It is too easy to look at these stores as libraries where you research without purchasing! Wonder how long Barnes & Noble will be able to hold on? Enjoy the day!
Fred,
They are going away. Wonder if we'll see more of the Waldens-type mall stores. :)
Steve
Wayne,
They very definitely are high-priced libraries. :)
Steve
With iPads and Nooks, etc. everyone reads online. It is SAD. I have a few books on my iPad but prefer the real thing. I don't know why?
Joni,
Many people like real books - am I'm glad since I'm an author - but Amazon, Walmart, and other online stores make it easier to get from home than going to a big bookstore. :)
Steve
At Borders I can find anything written by Mao, Stalin, Che Guevara, Marx and Engles, etc on the front of the shelf.
I can never find anything by Hayek, Milton Friedman, Adam Smith, Ann Coulter, Rush Limbaugh, etc when I look for it. Once I found a book by Rush in the back of other books in the cooking section. When I ask to order such literature, I am told it will take a long time to come in. When I say I can get it from Amazon in two days, I get a shrug.
Am I surprised that Borders is going out of business? Or worried about it? Should that model survive?
Jay,
Since it's been over 5 years (at least) since I bought anything at a Borders - and that long since I've been in one - no surprise at all. :)
Steve