Myself included. Book bargains coming soon…
The Borders Group said Monday that it would liquidate, shutting down the 40-year-old bookseller after it failed to find a last-minute savior.
Publishers, disheartened by the news, had watched Borders’ troubles deepen for years. After the bookseller declared bankruptcy in February, many publishers pressed for a reorganization plan, but they were left unconvinced that executives had a workable way to revamp the company.
Barnes & Noble put itself up for sale last fall, but has yet to find a buyer. It seems no one wants to own a bricks and mortar chain of bookstores. So it can’t be much of a surprise that no one has a “workable way to revamp” Borders.
Who’s doing well because of this? Independent bookstores. At least, the ones still left standing after a two decade onslaught from the big chains.
At Next Chapter Bookshop in Mequon, Wis., sales rose 20 percent in June and July after a Borders several miles away went out of business, said Lanora Hurley, the owner.
Other than increased business at independent bookstores and bargains at the liquidation sales for buyers, there is nothing good about this. Borders currently employs over 10,000 people across the country. Those 10,000 people will soon be without a job.