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.]