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Posts Tagged ‘Borders’

Lamenting just a few days ago on this blog about the imminent demise of Borders in the US, I was startled to read just now that Australian bookstores – Borders and Angus & Robertson – have this afternoon been placed into voluntary administration.  While news reports state that this recent move is not related to the US operation, one can’t help wondering.

The implications for the book industry of which we are all a part are of course enormous.

This article in the online edition of The Age tells the story behind the story:

 

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Borders Bookshops the world over have been synonymous with great books on just about any topic imagineable.   But, recent reports suggest that this mega bookstore, which has steamrolled over so many small independent bookstores over the years, may be about to fold.

A report in today’s Wall Street Journal: Chapter 11 for Borders, New Chapter for Books suggests that by early next week, Borders may be filing for Chapter 11 Bancruptcy leading to the closure of as many of its stores across the US as well as the loss of thousands of jobs.   The Wall Street Journal cites Borders’ failure to stay up with the times by embracing the shift toward eBooks and new technology as one of the major reasons for its downfall.

This US Channel 7 News report makes a similar prediction.

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