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NEWS: Borders Retailer Plans July Sale of Almost All Assets


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firedragon54738



Joined: 24 Sep 2007
Posts: 2266
Location: wisconsin

PostPosted: Mon Jun 20, 2011 11:14 am Reply with quote
Well I hope that this works out for them
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tempestskye



Joined: 27 Apr 2010
Posts: 8
Location: WV, USA

PostPosted: Mon Jun 20, 2011 11:29 am Reply with quote
I guess I am out of the loop on this one. Is this a good thing or a bad thing?
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egoist
Pirate KingPirate King


Joined: 20 Jun 2008
Posts: 7670

PostPosted: Mon Jun 20, 2011 11:32 am Reply with quote
Lately they've been changing their mind as fast as a drunkard, huh.
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Ovan~the~Rebirth



Joined: 03 Jul 2007
Posts: 95
Location: Athens, Ohio

PostPosted: Mon Jun 20, 2011 11:37 am Reply with quote
So Border's is basicly collapsing? That's very unfortunate, I always love looking at the manga and finding the one that looked the best out of the bunch. Looking for the one, that one volume that had no scrapes or small insignificant marks. Buying manga online just isn't the same, and Barnes and Noble doesn't have good prices in store unless your a member who pays money for their rewards program, at least Borders had a free rewards program where you could get a 33% coupon about every week.
Oh well, see you soon Borders I'm gonna have to buy up what i can like a squirrel getting acorns ready for winter.
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Saturn



Joined: 08 Aug 2002
Posts: 422

PostPosted: Mon Jun 20, 2011 11:51 am Reply with quote
What happens to Kobo when Borders is gone, I wonder? I don't have one, but I've been in the market for an ereader lately, so it makes me curious.
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Sunday Silence



Joined: 22 Jun 2010
Posts: 2047

PostPosted: Mon Jun 20, 2011 12:02 pm Reply with quote
tempestskye wrote:
I guess I am out of the loop on this one. Is this a good thing or a bad thing?


Currently, there are two "know" bidders: Najafi Cos. and Gores Group. I won't go into the details about each company (google it yourself), but each side is a private equity firm who are interested in Borders. Main valuable assets would be inventory, the Border Rewards Membership List, Transaction Database, Real Estate outright owned by Borders, and other assorted assets.

Also, the top tier guys in Borders also have a "bonus" on the hook where they get a bonus if they manage to sell the company to someone. If they don't and the company goes into Chap. 7, they lose out. So, for those guys, a sale is even more important.

This is what i'm interpreting: Either Najafi or Gores is close to hammering out a deal with Borders. If the deal goes south, Borders will just throw in the towel and go directly into Chapter 7 come August.

Personally, I would love to see Borders go into Chapter 7. The number of ****-ups done by Borders management recently only lends more credence to let Borders die already.


Last edited by Sunday Silence on Mon Jun 20, 2011 12:10 pm; edited 1 time in total
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LunarBluestone



Joined: 11 Jan 2006
Posts: 85

PostPosted: Mon Jun 20, 2011 12:03 pm Reply with quote
The Borders in Valley River was a Waldenbooks outlet. Unfortunately, their last day was May 30th. Going to miss it, even though they had a small selection of manga.
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Ashen Phoenix



Joined: 21 Jun 2006
Posts: 1627

PostPosted: Mon Jun 20, 2011 12:30 pm Reply with quote
I truly hope however this works out that Borders will still exist as a bookstore in some fashion.

This just breaks my heart to think my oldest and most favorite chain could disappear. Crying or Very sad I know they haven't always been great, but I don't want them to go nonetheless.
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Ushio



Joined: 31 Jul 2005
Posts: 183

PostPosted: Mon Jun 20, 2011 12:43 pm Reply with quote
Saturn wrote:
What happens to Kobo when Borders is gone, I wonder? I don't have one, but I've been in the market for an ereader lately, so it makes me curious.


Just buy it from somewhere else. It's not locked in to a propriety ebook format it supports epub so no problem.
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Sunday Silence



Joined: 22 Jun 2010
Posts: 2047

PostPosted: Mon Jun 20, 2011 12:46 pm Reply with quote
Ushio wrote:
Saturn wrote:
What happens to Kobo when Borders is gone, I wonder? I don't have one, but I've been in the market for an ereader lately, so it makes me curious.


Just buy it from somewhere else. It's not locked in to a propriety ebook format it supports epub so no problem.


No, just buy the Kobo from a closing store. Recently, Borders dumped it's apps for the Kobo, and now redirects people to use Kobo's apps to manage their e-books. So if Borders goes under, you still can buy books from Kobo or other sources.
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configspace



Joined: 16 Aug 2008
Posts: 2833

PostPosted: Mon Jun 20, 2011 12:50 pm Reply with quote
Saturn wrote:
What happens to Kobo when Borders is gone, I wonder? I don't have one, but I've been in the market for an ereader lately, so it makes me curious.

well, it isn't strictly tied to Borders so you can still use it for any non-Kindle ebook (like DMP's ebooks) in epub, pdf, with or without drm. They also maintain their own ebook store at http://www.kobobooks.com. The only caveat from what I understand is B&N specific ebooks that use epub format + B&N own DRM (eReader) "used for ebooks downloaded wirelessly to the Nook"
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Beni_Hime



Joined: 17 Sep 2005
Posts: 65
Location: Maine

PostPosted: Mon Jun 20, 2011 12:57 pm Reply with quote
Crying or Very sad wow.... That sucks royally. Gotta watch and wait...
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Sewingrose



Joined: 11 Jan 2011
Posts: 512

PostPosted: Mon Jun 20, 2011 1:03 pm Reply with quote
I really hope Borders doesn't go under. However if it does, I guess I have the liquidation sales to look forward to... Sad
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Redlinks



Joined: 14 Feb 2010
Posts: 402
Location: America

PostPosted: Mon Jun 20, 2011 4:05 pm Reply with quote
crossing my fingers that Borders will stick around for awhile! I will be sad if they file for ch.7.
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Banden



Joined: 24 Sep 2010
Posts: 141

PostPosted: Mon Jun 20, 2011 4:15 pm Reply with quote
Sunday Silence wrote:
Main valuable assets would be inventory, the Border Rewards Membership List...


Is this information something they can really just sell like some wholesale commodity? Would that not violate some kind of antitrust law? It certainly seems like it would violate the spirit of the Do Not Call Registry and other similar recent consumer protection laws...
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