Borders Bankruptcy

Kevy Baby · 02-16-2011, 05:36 PM

For those who haven't heard, Borders has filed for a bankruptcy (reorganization). The actually have a site about it here including a list of stores that will be closed (about 30% of all stores nationwide). Note that the list of store closures is a PDF doc.

Alex · 02-16-2011, 06:05 PM

I tweeted this earlier, but back when I was in library school there was serious talk about how public libraries should respond to the rise of Borders and Barnes & Noble and whether public libraries would survive them.

Half of the answer realized (of course, they may still fall to Amazon, but we didn't know enough to ask that question so seriously).

Alex · 02-16-2011, 06:08 PM

Also, here's a Google map showing the closures, which might be easier to parse than a PDF list.

http://www.batchgeo.com/map/0cee7474...eba832b5f20bcf

lashbear · 02-16-2011, 10:19 PM

Don't forget the jolly "Information for Shareholders" page...

Alex · 02-16-2011, 10:28 PM

Can't feel too bad for anybody caught holding shares. This was about the most predicted bankruptcy of the last decade so anybody caught was either not paying attention or speculating.

lashbear · 02-17-2011, 01:09 PM

who operates the cafes in the USA ones ? In Australia it was Starbucks and now is Gloria Jeans.

Gemini Cricket · 02-17-2011, 02:05 PM

2 closing in Hawai`i. But they're on the outer (more beautiful but more boring) islands.

Snowflake · 02-17-2011, 03:47 PM

Cannot believe they are leaving the location in Stonestown in SF and closing Union Square.

Kevy Baby · 02-17-2011, 04:54 PM

Quote:

Originally Posted by Snowflake

Cannot believe they are leaving the location in Stonestown in SF and closing Union Square.

I suspect that it may be a matter of cost of lease. I don't know these two areas, but would Stonestown be cheaper rent than Union Square?

I've noticed the ones they are close around here tend to fall in the high-rent category

mousepod · 02-17-2011, 05:10 PM

I thought the whole idea of the Chapter 11 filing was to get out of the real estate deals. Clearly, they don't want to screw over their vendors if they want to restructure. The $500 million line of credit was to keep the vendors shipping product.

Closing Union Square makes total sense.

(Or in fewer words: "what Kevy just said.")

02-16-2011, 05:36 PM	#1
Kevy Baby Chowder Head Join Date: Jan 2005 Location: Yes Posts: 18,500	Borders Bankruptcy For those who haven't heard, Borders has filed for a bankruptcy (reorganization). The actually have a site about it here including a list of stores that will be closed (about 30% of all stores nationwide). Note that the list of store closures is a PDF doc. __________________ The thing about quotes on the internet is that you cannot verify their validity. - Abraham Lincoln
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02-16-2011, 06:05 PM	#2
Alex . Join Date: Feb 2005 Posts: 13,354	I tweeted this earlier, but back when I was in library school there was serious talk about how public libraries should respond to the rise of Borders and Barnes & Noble and whether public libraries would survive them. Half of the answer realized (of course, they may still fall to Amazon, but we didn't know enough to ask that question so seriously).
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02-16-2011, 06:08 PM	#3
Alex . Join Date: Feb 2005 Posts: 13,354	Also, here's a Google map showing the closures, which might be easier to parse than a PDF list. http://www.batchgeo.com/map/0cee7474...eba832b5f20bcf
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02-16-2011, 10:19 PM	#4
lashbear SwishBuckling Bear Join Date: Jan 2005 Location: In Isolation :) Posts: 6,597	Don't forget the jolly "Information for Shareholders" page... __________________ *I Heart* my Husband - I can't think of anyone I'd rather be in isolation with.**
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02-16-2011, 10:28 PM	#5
Alex . Join Date: Feb 2005 Posts: 13,354	Can't feel too bad for anybody caught holding shares. This was about the most predicted bankruptcy of the last decade so anybody caught was either not paying attention or speculating.
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02-17-2011, 01:09 PM	#6
lashbear SwishBuckling Bear Join Date: Jan 2005 Location: In Isolation :) Posts: 6,597	who operates the cafes in the USA ones ? In Australia it was Starbucks and now is Gloria Jeans. __________________ *I Heart* my Husband - I can't think of anyone I'd rather be in isolation with.**
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02-17-2011, 02:05 PM	#7
Gemini Cricket ... Join Date: Jan 2005 Posts: 13,244	2 closing in Hawai`i. But they're on the outer (more beautiful but more boring) islands.
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02-17-2011, 03:47 PM	#8
Snowflake lost in the fog Join Date: Jul 2005 Location: San Francisco Posts: 7,831	Cannot believe they are leaving the location in Stonestown in SF and closing Union Square. __________________ Be yourself; everyone else is already taken. - Oscar Wilde
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02-17-2011, 05:10 PM	#10
mousepod You broke your Ramadar! Join Date: Jan 2005 Posts: 4,635	I thought the whole idea of the Chapter 11 filing was to get out of the real estate deals. Clearly, they don't want to screw over their vendors if they want to restructure. The $500 million line of credit was to keep the vendors shipping product. Closing Union Square makes total sense. (Or in fewer words: "what Kevy just said.") __________________ "Give the public everything you can give them, keep the place as clean as you can keep it, keep it friendly" - Walt Disney
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