Borders files for Chapter 11 Bankruptcy

[darksumomo]

L.A. Times: Borders Group files for bankruptcy reorganization

The bookseller, struggling with poor sales and heavy debt, will close about 200 stores - including 35 in California - and lay off about 6,000 workers.

This is a sad day, as I lived in Ann Arbor for 10 years and have lived in Michigan for 22 years, so I consider Borders to be my hometown

Comments

[wombat_socho]

I'm wondering if there's any room in the marketplace for general-purpose chain bookstores like Borders, Barnes & Noble and Books-A-Million any more, what with Amazon having such a firm grip on the online book sales market, to say nothing of the Kindle's dominance of the e-book market. I can see a day not too far off when there won't be any chain bookstores - just Amazon and a bunch of local genre-oriented stores who do a lot of business through the Intertubes.

[overlord_mordax]

Aw shit. :/ They're not closing the one in my area, but I am just having flashbacks to Walden books a few years ago. T_T

-D