Death Knell?

This is rumor, since I can’t get anyone to go on record, but multiple sources (all of whom are employed by Borders) are telling me that employees of several different Borders stores were told during conference calls this week that “things are bad” and “if they have an opportunity for employment elsewhere, they should take it.” This comes on the heels of last Friday’s stock slide after news that Borders was missing payments to creditors. Personally, I hope they are wrong. I like Borders. They’ve always been very supportive of me.

21 thoughts on “Death Knell?

  1. Andreas Black

    That bites. While not as nifty as my local independent bookstore, i always liked Borders. However, when they greatly reduced their DVD stock, that was kind of it for me.

    They were more often a good source of semi-obscure DVD’s than they were for books.

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  2. Geoff J

    Trust me, whatever your feelings on Borders, this is terrible news. Borders closed all their stores here two years ago, and you try and get a non mainstream magazine or novel in the UK high street. Can’t be done.

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  3. Ray M

    Borders is my go to store for books, they are the only store around here that has a horror section of books. Other stores have all fiction together so if you don’t know the book your looking for it can be a nightmare. Without Borders I may not have found Keene, Mayberry, Recht, and Sigler

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  4. Doug VK

    This is not a good sign for book lovers, but not that surprising. I read the above post to my wife and she pointed out that we didn’t shop at the Borders near us this past Christmas season for the first time since we were married (1995). We found all the books cheaper at Costco and Target.

    As Geoff J mentioned above, Borders was a great place to go for non-mainstream magazines. I will definitely miss it because of that. :(

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  5. Brian

    Well, I would caution everyone to remember that this is rumor until and unless someone wants to go on record. It could just be the grousing of disgruntled employees, but the fact that I heard it from multiple people gave me cause for concern.

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  6. Dana

    This scares me to death. It’s the only bookstore on the entire island that carries my favorite authors. I spend the entire day there, it is a home away from home for me. If they were to close, I’m sure I will spiral into a deep depression. I can always order online, but the experience of touching the books and looking at covers can never replaced.
    See ya,
    Dana
    Readaholics Anonymous

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  7. Jenni Holbrook-Talty

    There is a Borders a mile from my house. They have always been real good to us local authors. I don’t want to see them go under, but they are behind the ball and distribution of books is changing. We have to adapt and Borders is struggling with that. B&N is picking up steam with their Nook and their eBook sales are helping them.

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  8. Matt R. Jones

    Gah, that’s terrible if this is true. I love Borders myself — and not just because they’ve always got a solid Brian Keene section, either. I’m one of those dorks who goes for the whole experience…

    I love to get a coffee and just wander around to see what I can find — I’ve turned up some great books I wouldn’t have otherwise found that way, just because something caught my eye or because it was sitting near something else I was looking for.

    I’ve found several really good Lovecraft-oriented anthologies that way…

    Shopping online is just fine and dandy, but it’s not the same as meandering through aisles and aisles of books, or bumping into someone who sees the book you’re carrying and says, “Oh hey, you like that? Check THIS out, too!”

    It may be a big box store, but it’s always been one that’s very personable to me — it would suck dinosaur to see Borders go.

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  9. Txjack

    Articles abound about the problems with Borders. Their top attorney quit last Sunday as well as one of the chief VP’s. There are unconfirmed reports of several other top VP’s and those in the highests positions having resigned as well.

    If the leadership is jumping ship . . . it won’t be long before there is no one left to steer!

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  10. Kyle L.

    I have always tried to purchase my books from Borders, especially since they had a much better horror selection in my area than B&N by FAR. But since they pretty much pulled all their horror books escept for the extremely popular ones (Andrews, Koontz, King), I’ve given up on them. Amazon has since become my friend for purchasing books, they have a much better selection, at least for my area.

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  11. Ken J.

    For more unsourced rumors, see “iworkatborders” at Live Journal, a gaggle of mostly-anonymous Borders employees. Google will find it for you.

    Published & confirmed (by “real” news media) reports earlier: Borders lost about $800,000 per day in their 3rd quarter reporting period. Borders has announced that they cannot pay some of their suppliers, and some suppliers have announced that they will no longer ship to Borders.

    I don’t see how Borders survives this, but I thought the chain would collapse two years ago. I’m making sentimental farewell visits to the Borders stores in my vicinity and drinking a tea in their memory. I’ve had lots of happy times at Borders Store #1 in Ann Arbor. Oh, and I’ve got $5 in Borders Bucks to use fast!

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  12. dom

    This would suck, Borders is the only major bookstore here that still has a horror section (well, Hastings does, but it’s technically in another town). Plus, I like it better than B&N because they don’t take themselves as seriously. Another plus is that they carry a wide selection of zombie novels (even if a lot of them aren’t all that great, I need my zombie fix).

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  13. Thomas

    Andreas: Yes, that whole “losing the DVD section” thing? It was because they couldn’t pay, and DVD distributors refused to grant them a new line of credit. The ship’s been sinking for a while.

    It’s tragic, because I love Borders, I love bookstores period, and would hate to see a day when there were no more bookstores to visit and while away an afternoon in, because everybody’s joined the “if I can’t download it I don’t want it” cult. I’m hoping that if Borders files Chapter 11, it will give them a chance to restructure and bring someone in who can help them get their financial house in order. But I confess it isn’t looking good.

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  14. Casey

    It’s funny when you all complain about bookstore closing while at the same time admitting you buy more books online or at non bookstores like Costco and target. Come on people, if you stop shopping at a bookstore because it’s cheaper online don’t complain when your local shop closes.

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  15. Gary

    Wow. That is teh suck. Since Media Play shot down years ago, Borders is one of my favorite places to just kill time indoors. Plus, the one right across the street from me is where I was first introduced to Brian Keene’s books (The Rising to start…and then many more). Of course, I was just remarking to a member of their staff that it would sure be cool if the shelves weren’t barren of my favorite writers’ books.

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  16. Bryan Smith

    I worked for Borders for five and a half years until this past October, when our department was outsourced to the Philipines. This company has zero chance of surviving. It’s possible that they may pull an 11th hour rabbit out of their hat in terms of refinancing their debt, as they’ve done before, and no doubt everyone would rejoice. But I assure you it will only be delaying the inevitable. The hole Borders has dug themselves into over the last several years is too deep for them to ever crawl out of it. Whether it’s tomorrow or next month or next year, the end is coming and there is no way to stop it.

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  17. Monrozombi

    Its a shame that in most cities that B&N or Borders is the only place to find a wide selection of books. Not only does it carry your favorite authors but really gives you the opportunity to discover new authors and get lost in books for house.

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  18. Bill Irwin

    Hope this is only a rumuor. The publishing industry needs revitalization and an outlet for hard copy, not the disappearance of shelve space and table displays.

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  19. Kevin Da Mick

    I am a Boarders man all the way. As mentioned several times above, They have a horror section. Something B&N lacks big time. Also, the local Boarders that I shop @ has a reall cool layout. There is a whole section in the back of the store dedicated to just chillin and reading. Gonna miss the cute girkls that work there as well. :)

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