Forum - View topicNEWS: U.S. Bookstore Chain Borders Files for Bankruptcy
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Spastic Minnow
 Bargain HunterExempt from Grammar Rules  Posts: 4615 Location: Gainesville, FL |
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Oh boo hoo, Californians.
All three Milwaukee area locations are closing here! ALL of them in 26ths largest city in the country. How does that happen? Even a Suncoast was able to stay open here, why not a single Borders? I think it will leave two stores left open in the entire state, one in Madison and one in Eau Clare. Oh well, at least it's good news for the locally owned stores, not that they sell manga, but we have a couple high quality locally operated stores here that deserve a bump in sales. And yeah, I only ever bought stuff from Borders with the 40% off coupons and their larger sales.... but having said that- they put out those coupons often and now that I think about it I've gotten stuff there two or maybe three times in the past three months. |
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writerpatrick
 Posts: 672 Location: Canada |
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So how are they going to sell their stuff? These big stores have been killing the publishing industry. They kill off the small stores so that if one wants to sell their books they have to go through the big chains, and if the big chains don't pay then the publishers don't get paid (and in turn the writers). Calling bankruptcy is sure to destroy a lot of publishers. They're the ones that will have to endure the cost of the bankruptcy. Frankly it would be much better if all the big chain bookstores disappeared. Smaller outlets actually pay publishers but big chains don't. |
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Sunday Silence
 Posts: 2047 |
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Not really gonna happen. Much. Liquidation is a funny thing. From past experience, here's whats gonna happen: * Liquidation Company comes in, assess the situation in store, and reverts the prices back to normal (or in some cases, over) MSRP. * Discounting procedures goes at a snails pace. Unlike in the past, many Liquidators nowadays sometimes will stop at a set percentage and then the store closes. Don't expect to find Princess Ai at 90% off. * If their is still a nearby Borders that will live for another......6 months or so, the closing store might be cannibalized by the other Borders for stock a/or non-selling product from those stores is thrown into the closing store. Also, the Liquidation Company might also "sneak in" some goods of their own. And also note that the liquidation company doesn't give a s*** about customer service. Look thru every book for misprints, falling a/or dirtied pages, or racist graffiti (yes, i've seen such things) because many of these sales are ALL SALES FINAL deals. When Circuit City were closing, there were numerous stories of people buying TV's and other electronics that were either broken, smashed, a/or in questionable condition. |
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Jaymie
Posts: 915 |
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I don't think there's any Borders' in Canada, so I'm not affected at all. That's the good thing about the big three Canadian book stores being owned by the same company. No competition, no bankruptcies.
My main book store at the moment is The Book Depository, however. They sell manga at shockingly low prices (sometimes I'm able to buy omnibuses for half price!), and the shipping is free no matter how much you buy. |
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Sailor S
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Seeing how Borders owes Yen Press and Viz each tens of millions of dollars, what good would sending them more product that they're not going to get paid for do? I'm not saying they're necessarily going to cut Borders off. Perhaps Borders will present them a business plan that will encourage them to keep good faith with them. But you only have to remember back to the Musicland closure to know that prior to the bankruptcy declaration, product was not coming in to the store very regularly. So, I'll take a wait and see approach. If I can't get new releases from them, then off to TSRI I go. I'm not saying the sky is falling, but I'm gonna pack along an umbrella anyways. |
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nyarine
Posts: 3 |
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My closest store in Tucson is closing. Now I gotta go across town for the other (larger) store.
Some figures on how much Borders owes publishers and distributors: Diamond Comic Distributors - $3,906,549.94 (Tokyopop since mid Jan 2011) Hatchette Book Group - $36,879,656.30 (Yen Press should be a portion of this debt) Simon & Schuster - $33,757,444.75 (Viz Manga) Random House - $33,461,061.80 (Del Rey Manga) Harper Collins - $25,793,450.63 (Tokyopop, before the change to Diamond) Macmillan - $11,434,306.30 (Seven Seas) Deep in the hole... |
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Sunday Silence
Posts: 2047 |
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Maybe if Yen Press bothered to release stuff at a slightly accelerated rate than the lethargic pace their at, perhaps I could see some sympathy with them. |
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decepticons2
 Posts: 56 |
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Sorry to hear about the loss of work. But why bother shopping in any store? Ordering offline is way better then a box store.
In canada we have Indigo/chapters and its crap service and stock. I get 100% better service from amazon. There policy is all special orders have to be paid in advance. If they are unable to get it then you have to come back for a refund. I miss the private bookstores of the early/pre 90s. Sadly these guys put most of them out of business and they would never be able to compete with the prices of an internet warehouse. |
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writerpatrick
Posts: 672 Location: Canada |
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The situation is even worse for publishers. Many of them have to wait at least a year to get paid, if they get paid at all. Canadian publishers are going bankrupt all the time because of it. And with no competition there's no need to lower prices. And if the one person in charge of all those bookstores in Canada doesn't like a manga none of the stores will carry it. |
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Solowooke
Posts: 2 |
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The thing about this that really pisses me off is that before it's own bankruptcy, borders appears to have killed off the business model that, at least around me, appeared to be successful.
Each mall had a bookstore. It was only a storefront, not a two or three story coffee and cd emporium (why the hell does borders still have so much store space dedicated to cd's), but they were there for decades. Borders buys them all up, shuts them all down, doesn't even put a store of their own within half an hour to replace them, and then basically goes out of business themselves. So thank you borders for buying waldenbooks. For anyone who is a student here and needing a new place to get their books, don't forget if you have a .edu account you can get amazon prime free. You'll never need a borders/best buy/retail store again. |
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Altacia
Posts: 286 |
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Four stores in Louisville. {And two Waldens}
Two are closing. Here I thought the two with the Cafes would be safe but, The two closing are the two with the Cafes. 
I really loved you Borders on Gem, Your Cookies were a wonderful treat for my taste buds. Wonder if the Waldens are safe. Last edited by Altacia on Wed Feb 16, 2011 3:37 pm; edited 1 time in total |
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decepticons2
Posts: 56 |
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I am not sure anymore but when indigo bought up the other chains in canada they weren't even close to a monopoly on book sales. I believe the official sales was less then 25%. Imagine all the books that are sold online and other places such as drugstores and convience stores.
Not that this helps most manga fans. But i see naruto stocked at local drugstores and a few other titles. Only stuff that is really the new pokemon. But still I believe that kids that get this stuff now may become fans later in life. |
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Smart Chick
 Posts: 26 Location: Corona, CA |
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This is really sad I can't imagine what it's like to be one of the employees today finding out your going to be out of a job soon. I'm sure most of their customers will be constantly reminding them as well
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gokuthamonkeyking
Posts: 53 |
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i live in st. paul, mn, and the closest one of all is closing on University Ave. West. thankfully its newer and bigger Borders just happens to be at Rosdale Mall which survived the cut list. although its kinda sad to see the suburban ones closed.
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Sunday Silence
Posts: 2047 |
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One reason: I WANT IT NOW!! mentality of people. |
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