Borders Bookstore Will Eliminate 11,000 Jobs, Close 400 Remaining Stores
7/18/11


Bankrupt Borders Group Inc. said it has canceled its auction and will sell itself to a group of liquidators.

Borders announced the decision on Monday, saying it was not able to reach a deal for a going-concern sale to salvage its 400 remaining stores and 11,000 jobs.



A liquidation group led by Hilco Merchant Resources will begin liquidations as early as Friday, Borders said in a statement.

The bookseller will seek bankruptcy court approval of the closing procedures at a hearing set for Thursday.

http://www.huffingtonpost.com/2011/07/18/borders-jobs-layoffs-bookstore-employees_n_902024.html

That is too bad, oh well, well, at least Barnes and Noble is still open

Nobody reads books anymore I guess.

Very sad. I don't read as much as I used to, or should, but once I get started on a book it's hard for me to stop and there's no feeling quite like devouring a good book.

The death knell for yet another joy from my youth. And no, the Ipad and Kindle are not acceptable substitutes.

Nobody reads books anymore I guess.

I disagree, I am sure people still read books who still prefers reading a real book than using the Kindle or Color Nook

Barnes and Noble is sill holding on.

Borders was started in Ann Arbor, Michigan, very near where I grew up. I've been to their headquarters thousands of times and loved it. (Barnes and Noble were dirty words in my hometown.)

When I graduated college I worked at a Borders in Harrisburg, PA until I could find a job with my degree. I have to tell you, I hated working there. That was more a fault of poor management than the company, but I did have inklings back then (this would have been 2004) that things were headed downhill. Still, although I hated working for them, I did enjoy the company and am sorry to hear it's going. I'm sorry for my friends that still work there. It's a shame.

That's a shame that Borders is closing.; The Borders store that is close to me has always been over priced in my opinion. $40+ for a book is a lot.

Another store going to the grave.

I wonder if The Disney Store is next? (They tend to do better as an internet site now).

Another store going to the grave.

I wonder if The Disney Store is next? (They tend to do better as an internet site now).

Unfortunately, the Disney Store is another over priced store. I like the store, but the prices are crazy.

Internet sites are killing retail stores by the dozen.

WOW, that sucks! I love Borders! :(

Man, I'll miss Borders. I stop in there once a week to browse & buy paperbacks. I also love those Mocha drinks the cafe serve. They sent me another discount coupon yesterday through email but they didn't mention the closing. Wonder when it will finally close for good?
The closest Barnes & Nobles is 50 miles away but we do have a Books-A-Million in our city. So I'll probably check it out once Borders closes. I wonder if they email discount coupons too?

It's too bad they're closing. I love their store at the Time Warner Center here in New York.

Been a Borders customer for 20 years.:( Hate when this happens.

Got a friend of mine who works for Borders, now he is going to be out of a job. Yet they keep telling us the economy is getting better. For whom???

I went to the Borders on 7th Ave in NYC next to Madison Square Garden. I'm glad I did, I ended up picking up a few DVDs while I was there. It was a very nice location with two levels of media and a Seattle's Best upstairs.

Now I'm suspecting that there will be tons of unsold Borders stock hitting markdown and discount stores like Big Lots. Yay cheap literature!

I went to the Borders on 7th Ave in NYC next to Madison Square Garden. I'm glad I did, I ended up picking up a few DVDs while I was there. It was a very nice location with two levels of media and a Seattle's Best upstairs.

Now I'm suspecting that there will be tons of unsold Borders stock hitting markdown and discount stores like Big Lots. Yay cheap literature!

I agree with you on that. The markdown items are one of the few positives that come out of these situations. I'm still a bit sad that Borders will be completely gone.

It's a shame, because I used to like to visit the Borders that was near me. The people who worked there were very nice to me and very helpful. Plus, the layout and decor of that particular Borders by me was so cozy and inviting. I feel so bad for all the employees who have already lost or are in the process of losing their jobs. :(

Another store going to the grave.

I wonder if The Disney Store is next? (They tend to do better as an internet site now).

I don't think so. The Disney Store is still doing fine. They closed a bunch of stores when the Walt Disney Company bought the franchise back from The Children's Place. They thought there were too many and wanted to cut back on the availability of their products (something Disney has always believed in, unfortunately). So I don't see that happening.

This sucks :(

but sadly you can find pretty much any book you want on the internet, yet you can't at most bookstores

Sorry to hear of any business failing, even though I didn't shop at Border's too much

it terrible to hear when people in business are struggling because they are just trying to make a living like everyone else in the world. now i didn't go to border's very much, maybe once or twice but even at that it is always tragic to hear when someone loses their job especially in this economy.

Isn't this a contridiction? In an e-mail I received from Borders it says, "Emptying our warehouses! New merchandise arriving in Borders Superstores!" Why do they have new merchandise arriving if they are going out of business?

Isn't this a contridiction? In an e-mail I received from Borders it says, "Emptying our warehouses! New merchandise arriving in Borders Superstores!" Why do they have new merchandise arriving if they are going out of business?

Probably because the warehouses are being emptied out permanently and will never be used again?

This is such a shame, although I do prefer Barnes and Noble. I would be devastated if they went out of business. They are my favorite chain bookstore but my very favorite is Powell's City of Books in Portland, Oregon. They're independent-and very awesome!

It's really no surprise Borders is closing the rest of its stores. I went in to look at books when they were having their "20% off closing sale", and it was still more expensive then buying the book online! I'm sorry to see all the people lose their jobs in this tough economy, but the prices were ridiculous!

For the little that I do read, I'll shop at Barnes and Noble (the better of the two anyways) or online.

Either way, Books-A-Million is already moving into the smaller location that was inside my local mall. The larger location, which was directly outside of the mall, will probably sit empty for years to come.

As a Borders Rewards member (absolutely free membership, unless you wanted to upgrade and get another 10% off purchases), I was regularly getting at least 25% off of books and DVDs, and occasionally as much as 40%. This also applied to bargain items. I doubt that Barnes & Noble would ever give me 40% off of a new item in their stores, and anyway they charge an annual membership fee for their program.

As a non-member of B & N, they once sent me a mystery coupon via e-mail, where you don't know the discount amount until checkout (where you can refuse). I selected a book and was offered a measly 15% off. No dice. I miss Borders and while B & N had wider selection, I always got better deals at Borders -- especially when I accumulated "Borders Bucks" and sometimes even got extra Bucks I could redeem.