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Borders To File For Bankruptcy

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Bankruptcy For Borders

Oh shizz!

Looks like Borders is going to file for bankruptcy, and plans to close 200 store locations! Not good, not good at all.

Our source muses on reasons why this could be happening:

"Borders has been struggling amid a digital transformation rocking the publishing and book-retailing industries. Without a meaningful Internet presence or electronic-book reader, Borders has had trouble competing with rivals Amazon.com Inc. and its popular Kindle and Barnes & Noble Inc., the largest bookstore chain that has its own e-reader, the Nook."

We feel terrible about those people about to lose their jobs, but hopefully this helps Borders find a way to turn things around and get people back in to shop!

We don't have many suggestions to help, but… maybe don't make people pay $25 for things like a copy of Beverly Hills Chihuahua 2 or $29 for a copy of Open Season 3 (not even blu-ray!)???

Just a thought!

What do U think? Do U own an e-reader??

[Image via WENN.]

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32 comments to “Borders To File For Bankruptcy”

  1. 1

    Is that Squidward from Spongbob in that photo, it sure looks like Squidward!

  2. 2

    I got a Nook Wi-fi for Christmas and I LOVE it! I love the little color touch screen at the bottom, and there are tons of free books. I did my research first and discovered that when the battery of the Kindle finally goes bad you have to mail it to them to change it. With the Nook you can change it yourself. That appealed to me the most. I don't want to ship my ereader away for any amount of time. 3 of my friends also got Nooks. Oh, plus my state library lends out digital books—but NOT for the Kindle…just the Nook. Another big reason I got it. I didn't even know Borders was still around.

  3. 3

    Open Season 3? Fuck my life they'll make sequels out of anything these days.

  4. 4

    Kinda sad :( , but SO true. I live right down the street from one, but one book I wanted costed around 30 bucks with tax from there, whereas I could get it overnight from Amazon Prime for a total of 9 dollars. Their prices are too high.

  5. 5

    I've never ever heard of borders. So I could really care less.

  6. 6

    This guy looks like a chipmunk storing his NUTS in his mouth for the winter.

  7. 7

    So sorry to hear that. Borders has been a great store for years…

  8. 8

    Bankruptcy used to mean the curtains, now it's reorganization. Good luck to them and Barnes and Nobles, et. al- we need bookstores!

  9. 9

    Re: jennih789 – You're probably borderline illiterate. I wouldn't publicly admit to never hearing of Borders unless I grew up outside of the United States. That's like saying, "I don't know who Christopher Columbus is, so I could care less that Christopher Columbus Day will no longer be a recognized holiday." [Hypothetical Situation]

  10. 10

    Re: Voice_de_Reason – We do! Although I work so much that I don't have much time to read, these days, I think it's important to have physical bookstores around! People aren't going to be able to find weight training books or "non-best-seller" fiction books at Target. If Borders and Barnes & Noble go under, people will be forced to do 1 of 3 things to read books: 1) Only check out books from the library, 2) Order books from Amazon (and deal with shipping fees (where applicable) and waiting periods), or 3) Buy an eReader device to download eBooks. By the way, while Borders' prices can be ridiculous, you can sometimes get things for almost as cheap as Amazon (if not cheaper) if you use the Rewards Program well. Even if you sign up for the free program, you get coupons for between 25% and 50% off (usually 33% off, which is the same as the employee discount), and $5 back for every $150 you spend. I can sometimes get CD's for less than Amazon or Best Buy if I use a Borders Rewards coupon.

  11. 11

    Re: sohaveiforyou83 – I live in England, and even though I've heard of them, they are seen as an overpriced, yet shit book/stationary store.

  12. 12

    e-readers are going to kill bookstores, just like the video stores are closing in droves. It's sad, but it's the way things are going. I have an e-reader and hardly buy the real books anymore. I had hoped both would be able to survive but along with the e-reader explosion, people are reading less, dumbing themselves down to be even more stupid than they are now.

  13. 13

    This fucking SUCKS !!!!!! I love Borders, far more than B&N. They better not close my locations!!

  14. 14

    PS: e-readers are cool, but will NEVER replace print!

  15. 15

    Maybe I'm old school, but I love buying the actual book, the way the cover looks, the way the pages smell, I get excited when great books come in hardcovers. I'm resisting the e-reader!

  16. 16

    god where are we going? there is nothing as wonderful as opening a book and smelling the scent of a new book, spending days in the library trying to find a book. books are an escape from the ever-consuming tv, and we should not and cant combine the two.

  17. 17

    I work at Borders in Australia, and there is a hug difference. We are guaranteed to b cheaper than amazon.com, and we have the biggest bookstores in Australia. We dont just sell books dvds and cds, we seel stationary, gifts, homeware stuff, toys, kids stuff…heaps of things. we have a strong website which is somewhat cheaper than retail, with free delivery and customers can easily acquire 10% off cards. In Australia, the three main book retailers are Angus & robertson (which is owned by the same company that owns our Borders), Dymocks and obvs Borders and the QBD which is a relatively new chain. what I find amazing is u guys dont sell e-books in the american stores….we stock the kobos and sony e-readers. Borders, like every other book store is competitively priced, and is not to expensive, plus we do carry a larger range of books that made be harder to find in other book stores, like books that are old or havent been in print fo a while, and the selection for everything is always so much bigger. Luckily, my job is safe, Borders Aust. has been bought by the red group, so all is good, but its sad that they are closing else where!

  18. 18

    All the borders closed in the UK, such a shame.

  19. 19

    That explains why you can get book practically for free now in the Borders Dubai. How sad :(

  20. 20

    Most of you dumbasses don't read anyways. Let alone know who your local Congress person is. Most of you are dumb as shit. No joke. duhhhh It's called dumbing down and it worked on you guys.

  21. 21

    they wouldnt have to file for bankruptcy if the people who go there would actually buy the books rather than sit on the floor, read the book or magazine and leave without buying…i guess it never occurred to people that its not a library

  22. 22


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  25. 25

    Hello Dear,
    i am Kate,single never married, tall slim,and fair,that loves sightseeing and reading,i viewed your profile and got interested in knowing you more for important discussion,could you please reply to me via my mail address (kate_karmah10@yahoo.com) so that we will know each other very well.i will send my photo later.

  26. 26

    Re: candyass – I couldn't agree more :)

  27. 27

    I wanted to say that I do love real books, but I just don't have room anymore for them. My house is overrun with books. So the Nook is really handy to me. It keeps the page, the pages don't ever fall shut on me, I can change the text size. It's great.

  28. 28

    iTunes killed the music stores. NetFlix is killing the video stores. Nooks and Kindles are killing the bookstores. And then we look around and wonder why there are no jobs.

  29. 29

    Fahrenheit 451. Who would have ever known……

  30. 30

    Re: sohaveiforyou83 – Borders aren't ubiquitous like say, Books A Million. Until I moved to Baton Rouge, I had never heard or seen of one in Louisiana. It really depends on where in the US you live.

  31. 31

    I've been to Borders numerous times and ALMOST ALWAYS leave dissapointed.
    You just can't compete with Amazon now a days. You can get ANYTHING!

  32. 32

    Borders Bookstore had plenty of time to improve - Plenty - They saw Amazon's system work, they had the capital from investors, they had excellent locations in Goleta near UC Santa Barbara, Las Vegas corners in Henderson, Nevada, plus Town Center, and across from Union Square in Downtown San Francisco. I could have turned around any one of those bookstores, but the directors were lazy. They saw problems and refused to fix them. With all the creativity surrounding their shelves, they couldn't pick up a book on e-commerce, sales improvements, or entrepreunerial ideas and save the bookstore from bankrupcy. Where are the excuses for such failure when books provide so many solutions to unsolved problems. Hypocrities controled the company. Now the investors are being taken for a ride. Don't even think of asking for a bailout for the failed bookstore. You saw the walls cave in around you and did little to solve the company's internal problems within the store that had answers along its shelves.

    Thomas Chi