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NEWS: U.S. Bookstore Chain Borders Files for Bankruptcy


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mglittlerobin



Joined: 28 Aug 2008
Posts: 1071
PostPosted: Wed Feb 16, 2011 5:58 pm Reply with quote
I don't ever buy from book stores, and the one I bought from closed so I actually got discounts from them. My local Borders is safe though, 'cause I heard my local news talk about it. The thing is, I'm a cheapskate and if I buy manga, which is only once in awhile, I usually wait for TRSI sales or I'll wait til I get an Amazon gift card. I don't like paying retail prices for manga when I know that will a little patience and waiting I can get it online much cheaper.
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tuxedocat



Joined: 14 Dec 2009
Posts: 2183
PostPosted: Wed Feb 16, 2011 6:07 pm Reply with quote
Ugh.

They are getting rid of the two Borders bookstores in San Francisco that I frequent. The one that they are keeping is the Union Square store that is crammed with chonic drug addicted panhandlers and is filthy. The two times I visited that store I had to step over puddles of puke. And that's the one staying open. Go figure... Mad

This doesn't make me feel very confident about Border's future.

edited: my mistake. Looks like they are closing the pukey Union Square store. Keeping the King street store near the train station (*whew* -- I like that store.)


Last edited by tuxedocat on Wed Feb 16, 2011 6:24 pm; edited 2 times in total
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taster of pork



Joined: 11 Nov 2008
Posts: 594
Location: My House
PostPosted: Wed Feb 16, 2011 6:16 pm Reply with quote
Only one is closing where I'm currently living. the town I'm moving to only has one. Really glad that one isn't going. Feel sorry for all the people who are gonna be out of work Crying or Very sad
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Spastic Minnow
Bargain Hunter
Exempt from Grammar Rules


Joined: 02 May 2006
Posts: 4595
Location: Gainesville, FL
PostPosted: Wed Feb 16, 2011 6:24 pm Reply with quote
hmmm, I found this link of store closings via Wall Street Journal.

This link includes a scan of the legal document list as well as a sortable one, so you can see all closings for a state:
http://blogs.wsj.com/deals/2011/02/16/is-borders-closing-a-store-near-you-heres-the-full-list/

But there's at least one discrepancy, it lists two store closings in my area instead of all three.
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Cutiebunny



Joined: 18 Apr 2010
Posts: 1746
PostPosted: Wed Feb 16, 2011 6:42 pm Reply with quote
I don't feel bad at all. There are so many alternatives to buying books in a brick and mortar store now that it doesn't make sense to pay the mark-up these stores put on their items in order to cover their costs.

Looks like all the stores are closing in my area, which means I'll just continue to buy from online retailers. It's sad that it will be harder to browse items in the store but with the internet evolving into the beast it is, it was only a matter of time.
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decepticons2



Joined: 22 Oct 2008
Posts: 56
PostPosted: Wed Feb 16, 2011 6:54 pm Reply with quote
I am a little surprised no one has even mentioned the fact that no one has even mentioned ebooks. Thats going to take a huge chunk out of store sales and manga hasn't even really gone there yet.
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DieHardBleachFan



Joined: 05 Oct 2007
Posts: 277
PostPosted: Wed Feb 16, 2011 7:30 pm Reply with quote
Well, bummer.

The one I frequent the most is on the list Sad. Can't say I'm surprised though, I've been expecting it for a while now. Still sad to see it's closing, the staff was always very friendly.
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Farix



Joined: 28 Feb 2007
Posts: 152
PostPosted: Wed Feb 16, 2011 7:34 pm Reply with quote
Fortunately for me, all of the nearby Border's/Waldenbooks (nearby as in those that are within 1h driving distance) will not be closed. In fact, none of the store in my state are on the list. Though I'll admit that there are only 5 Border's outlets that I know of, and they are all spread out.
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Guardsman Bass



Joined: 05 Jun 2009
Posts: 158
PostPosted: Wed Feb 16, 2011 8:12 pm Reply with quote
It looks like the only Borders store within 50 miles of my house is closing down. Meh - I haven't bought a book there in years (I buy everything through Amazon).
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Sunday Silence



Joined: 22 Jun 2010
Posts: 2047
PostPosted: Wed Feb 16, 2011 8:25 pm Reply with quote
bayoab wrote:
Also, the company handling this is not the same one as the one who had Circuit City and many other famous ones. (Though it was split 4 ways for Circuit City iirc.) They actually lost the bid this time.


[citation needed]
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bayoab



Joined: 06 Oct 2004
Posts: 831
PostPosted: Wed Feb 16, 2011 8:50 pm Reply with quote
Sunday Silence wrote:
bayoab wrote:
Also, the company handling this is not the same one as the one who had Circuit City and many other famous ones. (Though it was split 4 ways for Circuit City iirc.) They actually lost the bid this time.


[citation needed]

Err.... huh... I can find two completely different groups listed as handling it...
Circuit City

Quote:
Great American Group LLC, Hudson Capital Partners LLC, SB Capital Group LLC and Tiger Capital Group LLC

and
Quote:
Richmond, Va. — Liquidation sales on $300 million worth of inventory that began yesterday at 154 Circuit City stores are being conducted by Hilco Merchant Resources and Gordon Brothers Retail Partners, a government filing shows.

But gordon brothers is the famous one for Comp USA, Sharper Image and others...


And from the PDF:
Quote:

(1) Great American Group LLC and Gordon Brothers Retail Partners LLC (collectively, the
“GB Group”) and (2) Hilco Merchant Resources, LLC, Tiger Capital, and SB Capital Group
(collectively, the “Hilco Group”).

and (2) won the bid.
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Firousi



Joined: 02 Jun 2003
Posts: 17
Location: Oklahoma City
PostPosted: Wed Feb 16, 2011 8:54 pm Reply with quote
Sheleigha wrote:
2 of the 3 by me are closing (of course, the 2 closest ones :p)

OH NOES!! WHERE ARE THE MANGA COWS GUNNA SIT DOWN AND READ WITHOUT PAYING NOW??!! What's that? The library? I thought Borders WAS a library!!
Imma blame them for never buying anything :/

Well, I guess I'll go check them out once a clearance sale is announced (unless they're just moving stock to different stores, but I'm sure they want to liquidate something!)

Real sad though, I know someone who worked at one of my local ones :/



The one in Oklahoma City is closing down, so that makes the closest Borders to me will be 40 miles away in Norman. I don't like my B&N because their managa selection is horrible. I would like to see how they are going to deal with the manga cows because they always squatted at my Borders like the plague. I know some people that work at the OKC location and my heart breaks for them. It looks like I will be renewing my prime membership with Amazon so that I can get my manga fix with fast S&H.

All in all I did see this coming but it hurts like the big one Crying or Very sad
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Keichitsu0305





PostPosted: Wed Feb 16, 2011 9:04 pm Reply with quote
decepticons2 wrote:
Sorry to hear about the loss of work. But why bother shopping in any store? Ordering offline is way better then a box store. ...
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.


While it's true that Internet shopping is more convenient (I have a few online accounts), I speak for myself saying that some people have sentimantal ties to Borders & other booksellers.
For example, the Wisconsin Ave. store that's closing; that's where I bought my first manga & spent most of my allowance when I was a teen!!

There's only one left near me (Pentagon City) Crying or Very sad but I'll continue to go there until it closes as well. I would go to Barnes & Noble but the two near me either have limited manga titles or none at all. Sad

Plus, no offense to the E-book readers, but I will always enjoy reading good old-fashioned books. *flips pages* Sigh...the smell of black ink! Anime smile
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Youkai Warrior



Joined: 07 Aug 2008
Posts: 505
Location: Sarayashiki
PostPosted: Wed Feb 16, 2011 9:05 pm Reply with quote
None of the stores near me are closing, but I feel bad for the ones who no longer have stores to go to. I also feel bad for the people who will lose their jobs.

I'm glad that Borders is still somehow staying afloat, but I'm afraid that they might eventually file for chapter 7. That will really suck. I guess if worse comes to worse, I will be going to Barnes & Noble more often. (Both stores have cut back on manga near where I live, so they are no different to me.) I still love Borders though.

I think there are many factors that are contributing to Borders predicament. While it is cheaper to buy online, I don't think bookstores will die out, and I don't think books will stop being published. What's happening with Borders is many things. The economy-people are being extremely careful of what they buy now; poor leadership on Borders part; relying on fads, etc. There are several reasons, it's not just the whole "bookstores should die" thing. Barnes and Noble are doing well because of a few reasons. For one thing, yeah there is the nook, but a lot of colleges and universities teamed up with B&N, and I recently found out that B&N also teamed up with TCM (Turner Classic Movies). You can buy old movies, often ones shown on the channel, exclusively at B&N.

I still have hopes for Borders, I hope they hang on.
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BitShifter



Joined: 25 Feb 2010
Posts: 23
PostPosted: Wed Feb 16, 2011 9:12 pm Reply with quote
agila61 wrote:
For example, Borders is leaving Columbus, Ohio to just Waldenbooks, with both Columbus Borders are closing, while most Cincinnati and Cleveland Borders are not in the current round of closings. That'd a bit surprising if you think of what the sales prospects would be for the various cities in Ohio for bookstores ~ but Barnes and Noble has the downtown Columbus locations, at Lennox Center and the OSU bookstore, and one of the two Borders is on Sawmill Rd competing against one of the Barnes and Nobles, while in Cleveland and Cincinnati, even after the store closings, Borders stores are more common than Barnes and Noble.


I'm not so sure. There are currently only 4 Borders stores within a 25-mile radius of downtown Cincinnati: Northgate, Eastgate, Deerfield Towne Center, and Crestview Hills in KY. Two of them (Northgate, Deerfield) are closing, leaving only 2 Borders stores in the Greater Cincinnati area.

There are still 4 Barnes & Nobles in the area, and a Jo-Beth.

EDIT: Talk about fast. To verify this information in this post, I just nipped off to borders.com and clicked the button to check for an in-stock item at local stores. They have already removed Northgate and Deerfield stores from the search results, returning only the 2 remaining stores in the area (only one of which is in Ohio) and the store in Louisville KY, 80 miles away...


Last edited by BitShifter on Wed Feb 16, 2011 9:27 pm; edited 2 times in total
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