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R.I.P. Borders

| Filed under: Legal MattersR.I.P.Sad SadBusiness Blitz

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Wow. And just like that, it's gone.

After filing for bankruptcy in February and failing to generate interest in an auction yesterday, Borders Bookstores will close 400 of its locations nationwide, and will lay off 10,700 employees.

According to President Mike Edwards:

"We were all working hard towards a different outcome, but the headwinds we have been facing for quite some time including the rapidly changing book industry, eReader revolution and turbulent economy have brought us to where we are now.”

As of now, the plan is to see the company's remaining stores and assets liquidated from the end of July to September, under the eye of Hilco Merchant Resources and Gordon Brothers Retail Partners.

Such a shame. But unfortunately, these are the times that we live in, and it seems as though they did every thing they could to not close down.

Our thoughts are with those who have or will be losing their jobs soon. Stay strong!

[Image via AP Images.]

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23 comments to “R.I.P. Borders”



  1. 1

    11,000 people with crappy dead-end jobs have to get fired & look for 11,000 none-existing crappy dead-end jobs…

    Many of these employees were part-time and won't qualify for unemployment benefits….



  2. 2

    Sad that electronic media is destroying print media. I, for one will never get into the whole kindle, nook, ipad, etc. fad. NOTHING is greater than the feel of a real book in your hands.



  3. 3

    Let me know when the liquidation sale starts!!!



  4. 4


  5. 5

    It's TOWARD not TOWARDS, Perez. Towards isn't a real word. Stop making it look like the president of huge book company doesn't know proper grammar. Great journalism on your part, misquoting your source.



  6. 6

    Re: hover me charlieRe: LizardKinG – I agree. There's nothing like the smell and feel of of a book. No more book swapping with friends, reading your child books at night, etc.

  7. buck says – reply to this


    7

    no problem… 'bamas got some 'shovel-ready' jobs ready to go



  8. 8

    This is a very sad situation. Not only is this bad news for the book industry (and somewhat-bad news for CD and DVD sales, as Borders has still had a small-but-important role in selling CD's and DVD's–particularly ones that aren't part of the mainstream), but it's sad to know that so many employees are losing their jobs. What a lot of people probably don't realize is that Borders has a substantial number of college graduates working at the store level. In this horrible economy, a lot of educated people are being forced to take jobs in retail, food service, etc. until they can find something that pays a legitimate livable income. Out of all of the minimum-wage-type jobs out there, working at a bookstore is one of the more tolerable ones. I'm not sure about Barnes & Noble, but Borders was also kind enough to give health benefits to its employees. Anyway, my point is that this turn of events is just another slap in the face for some of the employees who have already invested 4+ years into a college education and have had to settle for insulting Borders paychecks. Getting kicked while your down (again) is pretty awful. Hopefully, Amazon will sell physical books for many years to come, and Barnes & Noble will be able to hang on for a while longer.



  9. 9

    they had too many lard-asses sitting around spreading their DNA on the books instead of buying them. not a good business model.



  10. 10

    This is just an all around sad situation. I absolutely love books, REAL books, & Borders has always been a favorite book store to me. Reading is such a huge part of my life, & my kids life, & nothing compares to a real book, I buy them as often as I can. I hate to see this happen, & what is all the more sad is these people being put out of a job. Getting a job is NOT easy these days. So sad. I would like to hope that one day Borders will be able to recover.



  11. 11

    Re: sohaveiforyou83 – So true. And these jobs, as Pam's Triple-Filled Silicone Breasts mentioned, are included in employment stats, even though they have a lot of part time employees. Will we end up with more college students and grads working call centers to take complaints, rather than giving advice on books? The Amazon experience will never be the same as spending 2 hours wandering through a book store. Libraries are closing. Some of my best memories are taking my children to the book store. We all had fun and came home with several books each.



  12. 12

    Re: gnarly8 – No "Little Shop Around the Corner"? I'm not a lard ass but love to spend time at book stores and usually drop over $100. per visit. Kind of like going out for dinner, but spending more. We don't want all restaurants to change their business model to "To Go" orders only, do we? It would save a lot on overhead but would completely change the dining experience.

  13. buck says – reply to this


    13

    Re: poodlewithamohawk – maybe this college grads will think before they vote next time



  14. 14

    kindle, nook and etc suck I love the feel the book in my hands…also seems people look at screens enough with the tv and computer, phones..sad.



  15. 15

    This is really sad. We used to love going to our local Borders. They had everything: books, CDs, coffee, food. What a shame. Who was the moron that was running this company and couldn't stop all these stores from closing.



  16. 16

    wait, what? I won't be able to buy $19 CD's anymore when I could buy them for $8 at Target???? Bummer!



  17. 17

    The only thing my small-ish town was missing was a bookstore and now I see we will probably never get one. The times they are a-changing but it's very sad. I can't imagine using a Kindle either.

  18. @v@ says – reply to this


    18

    These big books stores sucked up all of the little mom and pop bookstores, and now they're suffering the same fate. There are still many who like a hard copy book, so maybe some of the little character stores will re-emerge.



  19. 19

    I love Borders, they had a great one on Kauai, would always stop there my first day to get some good books (to supplement the few paperbacks I brought with me). My closest one is 7 miles away and it is a really good store. Much prefer it over B&N.

    And yes, I am another person who likes to have a physical book in my hands. Have had a library card since age 4.



  20. 20

    brick and motar is the past, whether youre a mom & pop or a megastore, embrace your destiny to go out of business. You guys can cry all you want about the feel of real books but remember that people said the same thing about landlines, CDs, cassette tapes, typewriters, telegraphs and the horse and buggy. DEAL WITH IT.



  21. 21

    This sucks rotten donkey dick. Borders was my go-to store whenever I wanted to pick up a copy of Royalty magazine, mostly because the competition across the way was always out whenever I'd look for it there.



  22. 22

    Re: @v@ – There's plenty of those mom-and-pop book stores still around, if one doesn't mind used books for the most part. I found my first Ayn Rand at a little place called Paperback Patti's where the owner brings her sheepdog sit by the counter on the weekends.

  23. @v@ says – reply to this


    23

    Re: StephS41 – Sounds familiar. One I go to is old and a bit dusty, but full of atmosphere and some real finds. I spent hours in there. I'm sorry about Borders, too…big book stores filled a niche, and people will lose their jobs. Re: poorlittlerichiegirl – is probably right about books going the way of the dinosaur, but if a huge magnetic storm or solar pulse (as happened in the 1800's before humanity was wired) wiped out current day electronics, if books are gone, there will be nothing to read being the least of the problems.