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Border's bankruptcy filing possible next week

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Border's bankruptcy filing possible next week

Old 02-16-11, 07:50 AM
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Re: Border's bankruptcy filing possible next week

Originally Posted by kintnerboy View Post

The myopia on this board is embarrassing .
The arrogance on this board is embarrassing.
Old 02-16-11, 08:28 AM
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Re: Border's bankruptcy filing possible next week

Personally I never liked the library-coffee bar style of their stores anyway. In my town at least it was a recipe for being infested by truly annoying teenagers and various degrees of vagrants.
Old 02-16-11, 09:00 AM
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Re: Border's bankruptcy filing possible next week

And its official: Borders files for Chapter 11 and plans to close about 30% of its stores.

Link
Old 02-16-11, 09:30 AM
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Re: Border's bankruptcy filing possible next week

Originally Posted by al_bundy View Post
CC's problem was making the checkout process a hellish experience. in the one closest to me you had to stand in line at the customer service desk for most transactions and it could easily be a 30 minute wait.

unlike best buy where i spent less time in december than Circuit City in July
CC was one of those enterprises that is VERY competitive to begin with, and comes down to tight competition for each dollar it can squeeze out of customers vis. what it took to open the store every day. Each dollar it discounted with it's competition on it's weekly sales items, was critical to it's very survival. They were probably NOT in it for the long run anyway.

Towards the end, overall, the stores became dirty, with less floor staff, and understocked with the currently released items that they had to make money with to stay alive. You could see them playing with the store's product layout, like THAT had anything to do with it !

All that was left out of all this was an overabundance of OLD inventory, at the same price ! It just laid there in piles, sometimes, which is a sure sign of decay and questionable "legal" business practices.

A visit there became a seminar on NOT what do in retail sales stores, to the uninitiated regular customer !

I'm sure whoever was at the "Top", eventually looted company profits and starved it's retail stores of ANY money to operate!

No tears for CC, Please, as they don't deserve it because they were NEVER designed to "serve customers", anyway. It looked like a quick money making scheme.
Old 02-16-11, 12:08 PM
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Re: Border's bankruptcy filing possible next week

Is there a list of the stores that are closing yet?
Old 02-16-11, 12:43 PM
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Re: Border's bankruptcy filing possible next week

Originally Posted by Lemdog View Post
Is there a list of the stores that are closing yet?
Not Yet. From the Bankruptcy website:
I understand you are closing stores nationwide is this true? Borders will continue to maintain its strong national presence. Our nationwide network of stores is foundational to the Borders brand. Borders, however, will be closing underperforming stores within our network over the next several weeks. Should your local store be affected, please visit Borders.com to find another Borders store near you, or to purchase from our vast selection of books and other merchandise online.

Will I be told if my local store is closing? Yes, customers will be notified of closing stores in their general area.
http://www.bordersreorganization.com/customerinfo.php
Old 02-16-11, 01:14 PM
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Re: Border's bankruptcy filing possible next week

Originally Posted by Lemdog View Post
Is there a list of the stores that are closing yet?
http://s.wsj.net/public/resources/do..._20110216.html
Old 02-16-11, 02:10 PM
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Re: Border's bankruptcy filing possible next week

Darn, the one by me is closing. It's only a few years old too
Old 02-16-11, 02:31 PM
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Re: Border's bankruptcy filing possible next week

Wow, CT takes a huge hit for a small state....bloody:

Manchester
Milford {SBJ will not be pleased}
Danbury
Simsbury
Wilton
Southbury
Old 02-16-11, 02:39 PM
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Re: Border's bankruptcy filing possible next week

The store I frequent occasionally is staying open for now.
Old 02-16-11, 03:12 PM
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Re: Border's bankruptcy filing possible next week

Mine is staying open. Damn. Now only 1 left in Ventura County.
Old 02-16-11, 05:10 PM
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Re: Border's bankruptcy filing possible next week

Thankfully no more near me are closing.
Old 02-16-11, 05:40 PM
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Re: Border's bankruptcy filing possible next week

The one I frequent is staying open, but the (larger) one across town is kaput. Really sorry to see Borders staggering, even if they aren't the best book/DVD/CD retailer (I frankly prefer B&N as a "big" bookstore). I don't always like to buy everything online, even if that offers the best deals, and Borders at least carried some unusual stuff that Best Buy never would. It is good to have some choices in local retail, which having a variety of even mediocre big box stores offers. I hated seeing Circuit City go away for the same reason, even if they were poorly run.
Old 02-16-11, 05:46 PM
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Re: Border's bankruptcy filing possible next week

I'm bummed that a lot of my friends who still work for the company will be losing their jobs if our local store closes.

Another part of me thinks it's hilarious that all the freeloaders that littered that store will travel 5 minutes up the freeway to Barnes & Noble to thrash that store
Old 02-16-11, 06:06 PM
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Re: Border's bankruptcy filing possible next week

Originally Posted by BuckNaked2k View Post
Wow, CT takes a huge hit for a small state....bloody:

Manchester
Milford {SBJ will not be pleased}
Danbury
Simsbury
Wilton
Southbury
I'm more bummed about Danbury & Southbury(a concept store). I'm amazed that Fairfield was able to stave off the axe.
Old 02-16-11, 06:24 PM
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Re: Border's bankruptcy filing possible next week

Wisconsin is left without any Border's (only 4 to start with, all 4 closing).

Sad to see. A lot of employees out of work.
Old 02-16-11, 06:40 PM
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Re: Border's bankruptcy filing possible next week

Originally Posted by Sweet Baby James View Post
I'm more bummed about Danbury & Southbury (a concept store). I'm amazed that Fairfield was able to stave off the axe.
Fairfield? That store's in a primo location.....downtown, near the train station, near a University, near restaurants, etc. More disposable income in that town than you can shake a stick at.

What's amazing is that the lone mid-state Borders (Farmington) will have 6 B&N locations within (roughly) a 20 minute drive.
Old 02-16-11, 06:52 PM
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Re: Border's bankruptcy filing possible next week

Originally Posted by btbrossard View Post
Wisconsin is left without any Border's (only 4 to start with, all 4 closing).

Sad to see. A lot of employees out of work.
I don't see Eau Claire's on the list. Did I miss it?
Old 02-16-11, 07:03 PM
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Re: Border's bankruptcy filing possible next week

pdf
Old 02-16-11, 07:23 PM
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Re: Border's bankruptcy filing possible next week

Originally Posted by BuckNaked2k View Post
Fairfield? That store's in a primo location.....downtown, near the train station, near a University, near restaurants, etc. More disposable income in that town than you can shake a stick at.
It's definitely a good location. However, business has got to be down and I would imagine that the rent would be higher than say the Southbury store.
Old 02-16-11, 07:27 PM
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Re: Border's bankruptcy filing possible next week

Originally Posted by BuckNaked2k View Post
Thanks for posting that.

Looks like the store I used to work at is staying in business at least until April 2011.

Though surprisingly some of the other stores I have friends working at (Union Square/San Francisco, Santana Row/San Jose) are shutting down.

Those are some really big stores. Union Square store is right in the heart of Downtown San Francisco.
Old 02-16-11, 07:45 PM
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Re: Border's bankruptcy filing possible next week

Originally Posted by LJG765 View Post
I don't see Eau Claire's on the list. Did I miss it?
I misread the JSOnline story about it (or they changed their headline later, which has happened before).

All of the Milwaukee area stores are closing (3) and a Madison store (1).

Oops. That leaves 1 store in Madison and 1 in Eau Claire.

Eau Claire has stores?
Old 02-16-11, 08:06 PM
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Re: Border's bankruptcy filing possible next week

Originally Posted by asianxcore View Post
Though surprisingly some of the other stores I have friends working at (Union Square/San Francisco, Santana Row/San Jose) are shutting down.

Those are some really big stores. Union Square store is right in the heart of Downtown San Francisco.
And they're probably huge rent drains on the company (including the store on Market that's also shutting down). My local store is staying open. I'm not sure I care other than it gives people a place to hang out where I don't hang out.
Old 02-16-11, 08:30 PM
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Re: Border's bankruptcy filing possible next week

Originally Posted by btbrossard View Post
I misread the JSOnline story about it (or they changed their headline later, which has happened before).

All of the Milwaukee area stores are closing (3) and a Madison store (1).

Oops. That leaves 1 store in Madison and 1 in Eau Claire.

Eau Claire has stores?
Yes, Eau Claire has stores. Lots of them. Only one Borders though, no B&N (except for a college bookstore).

A lot of the MN stores are closing, too.
Old 02-16-11, 08:34 PM
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Re: Border's bankruptcy filing possible next week

Thankfully, Chapter 11 hasn't robbed those of us with Borders Rewards Plus or giftcards:

Originally Posted by Email from Borders CEO Mike Edwards
Dear Borders Rewards Plus Member,

[...] Our Borders Rewards Plus program remains in effect. [...] We are also honoring gift cards as usual, which can be redeemed in-store and at Borders.com. [emphasis in original]

Borders.com is operating as usual. [...]

Sincerely,

Mike Edwards
President and CEO, Borders, Inc.
(I would have included more, but I had to type this by hand since it was sent as a graphic instead of formatted text!)

I hope they don't disappear completely. With 40% off coupons (which works out to 46% off with BR+), they provide some competition to B&N. Just like Best Buy has to keep prices reasonable due to the presence of Circuit Ci--oh. Never mind.

Let's see...in the St. Louis area, we're losing the Ballwin, Chesterfield Mall, and Mid Rivers Mall locations. That still leaves Brentwood, Sunset Hills, South County Mall, and Creve Coeur. So we keep the more central locations and lose everything outside I-270. Interesting.

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