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Borders Liquidation

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Borders Liquidation

Old 07-18-11, 07:18 PM
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Borders Liquidation

News Alert
from The Wall Street Journal


Borders Group said it would liquidate after failing to receive any offers to save the bookstore chain.

Borders, which employs about 10,700 people, scrapped a bankruptcy-court auction scheduled for Tuesday amid the dearth of bids. The U.S.'s second-largest bookstore chain said it would ask a judge Thursday to approve a sale to liquidators led by Hilco Merchant Resources and Gordon Brothers Group.

Borders's liquidation of its remaining 399 stores could start as soon as Friday and the bookstore chain is expected to go out of business for good by the end of September, the company said.

http://online.wsj.com/article/SB1000...=djemalertNEWS
Old 07-18-11, 07:20 PM
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Borders Liquidation

News Alert
from The Wall Street Journal


Borders Group said it would liquidate after failing to receive any offers to save the bookstore chain.

Borders, which employs about 10,700 people, scrapped a bankruptcy-court auction scheduled for Tuesday amid the dearth of bids. The U.S.'s second-largest bookstore chain said it would ask a judge Thursday to approve a sale to liquidators led by Hilco Merchant Resources and Gordon Brothers Group.

Borders's liquidation of its remaining 399 stores could start as soon as Friday and the bookstore chain is expected to go out of business for good by the end of September, the company said.

http://online.wsj.com/article/SB1000...=djemalertNEWS
Old 07-18-11, 07:33 PM
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Re: Borders Liquidation

Hate this. Not only do I have friends who work there, but I love my local store. Does anyone know yet about what happens to borders bucks? I have some that will not not active until next month, August.
Old 07-18-11, 07:33 PM
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Re: Borders Liquidation

The one borders book store that was near be closed down some while go.
Old 07-18-11, 08:00 PM
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Re: Borders Liquidation

Always hate seeing anyone get laid off, but damn was this a lousy store. Only place I ever heard workers complain openly.
Old 07-18-11, 08:06 PM
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Re: Borders Liquidation

Originally Posted by trespoochies
Always hate seeing anyone get laid off, but damn was this a lousy store. Only place I ever heard workers complain openly.
I'll miss them as I have fond memories of having out in a Borders near my apartment when I first moved to a city in which I knew no one. But, you can't build a successful business when your only reasonably priced items are the Bargain books and items discounted via the coupons.
Old 07-18-11, 08:46 PM
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Re: Borders Liquidation

Sad to see another large franchise go the way of the dodo bird. I always like how large the Borders stores are. You could spend an entire day there.
Old 07-18-11, 09:21 PM
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Re: Borders Liquidation

I didn't like Borders. Besides the cheap online anime pre-orders, it pretty much sucked. However, they were one of the few stores that made books widely available and, once they pass, it's going to be that much harder to get a good selection of B&M books. So that part sucks.
Old 07-18-11, 10:13 PM
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Re: Borders Liquidation

I'll miss it too.
Would spend a good few hours in there. Plus with the coupons it was easy enough to find some good deals.
Old 07-18-11, 10:13 PM
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Re: Borders Liquidation

Originally Posted by big whoppa
You could spend an entire day there.
That was one of their problems. The place became a hobo hotel.
Old 07-18-11, 10:30 PM
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Re: Borders Liquidation

Borders had a really pleasant atmosphere to hang out and read books--which were bought thereafter and not just left to be shelved.
Old 07-18-11, 10:32 PM
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Re: Borders Liquidation

Originally Posted by Sweet Baby James
That was one of their problems. The place became a hobo hotel.
^
This

Even further, you had lots of people just treating their local stores like their own library. Treating the store like their own home, but maybe a little worse. The company encouraged it too. When I was an Operations Manager at my local Borders last year, I pushed for a little less seating at our local store. More so because it encouraged lounging not buying. It also made things harder for employees to keep things clean and looking nice. A Barnes and Noble across the Richmond Bridge had very limited seating in their store (most of the seating being in the Cafe) and that kept a lot of people from camping out in sections of their store.

Then again this applies to a lot of book stores. I went to a local bookstore when I was in Santa Cruz, CA a couple days ago. There were people just lying on their stomachs in the middle of aisles reading to their hearts content. I know this is part of the allure of many bookstores, but it certainly didn't encourage me as a shopper to be stepping over people to see if I could find a book.
Old 07-18-11, 10:42 PM
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Re: Borders Liquidation

Best deterrant to reading in a store I ever saw was at a convenience store near where I used to work- by the magazine rack, there was a hand-written sign saying "This is not library so do not read magazeen here."
Old 07-18-11, 11:32 PM
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Re: Borders Liquidation

I'm sad about this whole thing. I worked at Borders (even though I had to actually quit to attend my college graduation because my manager was an ass), and loved it. I'm going to miss this store - cause B&N blows.
Old 07-18-11, 11:51 PM
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Re: Borders Liquidation

Its a bummer for sure. I found some great stuff from their bargain book shelves. Never happy to see a store go under, especially one that employs so many people.
Old 07-19-11, 12:39 AM
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Re: Borders Liquidation

About 6 years ago I worked at Borders for a month...then went back to Barnes & Noble.
Old 07-19-11, 01:08 AM
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Re: Borders Liquidation

Damn, I had a preorder for an item coming out July 26. Guess that won't be happening, unless maybe their warehouse already received it...
Old 07-19-11, 01:32 AM
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Re: Borders Liquidation

You started this topic in three different forums, mekeez?
Old 07-19-11, 01:46 AM
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Re: Borders Liquidation

Originally Posted by davidh777
You started this topic in three different forums, mekeez?
He's just spreadin' the word.
Old 07-19-11, 02:21 AM
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Re: Borders Liquidation

I've never bought a Blu-Ray at Borders- it's the only place I've ever seen them marked at full price though ($39.99 for some titles.) Was in one of their stores a few weeks ago and saw a bunch of CDs priced at $18.99 too.
Old 07-19-11, 04:24 AM
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Re: Borders Liquidation

It was a good store to kill some time and browse around. But to buy something? Never... the prices were terrible. Even with a 50% off coupon, you could still find it cheaper on Amazon.
Old 07-19-11, 04:54 AM
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Re: Borders Liquidation

We need a few more of these threads. Someone start one in the movie and video game forums, stat!
Old 07-19-11, 05:31 AM
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Re: Borders Liquidation

i'm in the same boat as kenbenobi, one backorder and one preorder (both used borders bucks). i guess i can kiss those good-bye....
Old 07-19-11, 05:59 AM
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Re: Borders Liquidation

sooooo.......... is this just a love/hate borders thread? wheres the deal here?
Old 07-19-11, 07:03 AM
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Re: Borders Liquidation

We need a few more of these threads. Someone start one in the movie and video game forums, stat!
They didn't screen movies, nor did they sell video games. If they did, they'd be in there.

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