That's right, Borders is attempting to liquidate all of their stores and close down, for good.
Is anyone else as saddened by this as I am? Borders has the BEST coupons! I love to use them to get the new releases at a great price.
I found a few useful questions and answers on the Chicago Sun-Times website. This is from the article "What You Need to Know About Borders Closing", and can be found HERE:
Q. When will sales start?
A. Liquidation sales start Friday and usually take eight to 10 weeks to complete. Stores close as soon as the inventory is sold, so they could close sooner if the merchandise sells quickly.
Q. When will the stores close?
A. The store sites are slated to be sold by the end of September. The first wave of property auctions will take place from the end of August until the beginning of September, followed by a second wave from mid-September until the end of September. Most Chicago stores will be part of the second wave, said Andy Graiser, co-president of DJM Realty, the Melville, N.Y. company in charge of finding bidders for and disposing of the stores.
Q. How good will the bargains be?
A. Opening discounts start at up to 40 percent on all merchandise. The prices at which the discounts are taken are the level that Borders charged prior to its bankruptcy filing. Roughly $700 million of inventory will be on sale.
As sad as I am to see them go, I will most definitely be hitting up those sales, and probably multiple times. The thing that I have to remind myself is not to go all super crazy, because 10-30% isn't a good deal when I can get a better discount online.
What About the other Booksellers?
I'm hoping that this doesn't happen to the other booksellers out there! If a major bookseller can go under, what does that say about the more indie book sellers? It seems to me that Powells (my favorite local store) always has customers in there, shopping, so hopefully they'll stay afloat!
So, is this affecting you at all?
this is so sad, but like you I will definitely be checking out those sales.
ReplyDeleteThis saddens me because it means the closest bookstore is now further away. So, I'd probably be less likely to go to the bookstore now, and shop mainly online. But... I guess I pretty much do that already. =/
ReplyDeleteOMG. I know! This is the worst thing to happen ever! (You know besides the other really bad things in life. On the simple scale this still ranks pretty high)
ReplyDeleteI've loved Borders since forever. I've done all my shopping there. Mostly because they were the only ones to give out coupons. I could get deals on my paperbacks. I have a Kindle but I still buy more books because I get better deals on them than Kindle books. The price for a paperback and a Kindle are the exact same! But with my Borders discounts I get to save a lot more!
I am utterly sad. I still had some preorders too for next week and I'm hoping those still get sent out.
Do we know if they'll have next week's releases yet? I'm hoping they do. At least let me finish July off with saving!
This is sad, but my closest Borders already closed with the first round of stores that closed when they were still trying to sell. The closest one now is an hour away, not sure if I will be making the sales. My local book store is B&N, I'm hoping they don't follow, because I love going there and just browsing books!
ReplyDeleteI'm personally nervous for what this means for traditional publishing. I don't really care too much for e-books and so I hope this isn't catching.
ReplyDeleteI'm a Borders lover too! I have so many fond memories of spending time there with the kids when they were little(r). We need bookstores just as much as we need stories! Here's crossing my fingers and toes that my (even more) beloved Powells doesn't follow suit!!
ReplyDeleteI would cry and cry if Powells shut down. I don't even want to think about it!
ReplyDeleteI am so bummed that I won't be able to get the 40% coupons anymore! I just bought their membership this year, too.
I have a book I pre-ordered, also. I will be so angry if they charge me and don't ship it.
I like e-books, but I love real books so much! I hope that maybe Borders just wasn't all that popular. I know that I don't hear about them as much as I hear about B&N. I do love B&N, but I can't afford their prices. :/
If I didn't have a local indie store that rocked (Powells), then I'd probably buy most of my books online. :( I guess I'd rather have the option of getting a book online than only being able to get an e-book.
It's so sad that Borders is shutting down. I work at Barnes & Noble, and luckily we're still doing pretty good! Hopefully the indies will stay in business too. The best way to make sure they stay around is to buy more books. :)
ReplyDeleteI'm so bummed that Borders are closing. I love Borders so much and I'm sorry to see it go especially since I still have friends and old coworkers that are now having to look for new jobs. I will miss Borders so very much, they were my bookstore of choice when buying new books that I had to have the day they came out and I for got to pre-order. I will miss stepping into Borders and smelling all the new books and just browsing around reminiscing about restocking the romance, Sci-fantasy and YA books. I will miss you greatly Borders :(
ReplyDelete