Borders bankruptcy for those who missed it.

I'm guessing most people have seen this, but just FYI.


http://www.bloomberg.com/news/2011-02-17/borders-bankruptcy-may-snuff-ackman-s-stake-merger-ambitions.html


Yeah, I got the email, heh. I don't see this as too big a deal. They overextended, put stores where they didn't need to, and are doing a chapter 11 restructure. I really don't see it as a sign of the times at all.


It probably means changes for the major publishers who they owed lots of money, too.


Years of bad business decisions drive retail group into the ground. News at eleven.


Borders closed all its stores on this side of the pond a long time ago, so I can't say I'm sad to see them go. I used to like hanging out at the one in Oxford but it was never a place I bought anything. Their selection was rubbish, their aisles cramped and their shelves permanently disorganised. I much preferred Waterstone's for books, because in the end all I wanted was a thing to take home, not to sit in a cafe for hours reading without paying for it.


Regards,

Ryan


It might be a bigger deal for Australia, where Borders / A&R Bookworld [and Whitcoulls, NZ] are two of the big four. Collins is online, and that leaves Dymocks.


In Dec 2010 Borders topped out the customer satisfaction surveys here.


In re coffee house bookstores, Graham Lineham covered it well in Black Books.