Borders Inches Closer to Liquidation. What Happens Next?

The deadline to save Borders passed yesterday, meaning that they will now proceed to a bankruptcy-court auction tomorrow. It’s not quite over for America’s second-largest bookstore chain, and a bidder could still emerge in the next day-and-a-half to save the company – which employs nearly 11,000 people – from being liquidated. In fact, the Wall Street Journal reported today that Books-A-Million were in talks late last night about a deal. However, it seems clear that even if this move comes off, which is doubtful, it will only rescue part of the company, and a large amount of (further) store closures and layoffs is unavoidable. It seems likely now that the bones of Borders will be picked apart, and the remaining Read More…

Do You Prefer Print Books? Enjoy Them While You Can

While I might beat the self-publishing drum at times, I don’t celebrate when I hear publishers are in trouble, or bookstores are closing down, because there are always people behind the headlines, and it has ramifications for the entire book world. The closure of bookstores, in particular, is disheartening. And when people say – as a lot of my friends do – that they have no interest in e-books, and can’t imagine ever using an e-reader, I get it. People have an emotional attachment to print books. You see them in bookstores, wandering the aisles in a daze, stroking the spine of a book as if it were the photo of a lost love. They take it from the shelf, Read More…