What depression?
WSJ:
Borders Forced to Liquidate, Close All Stores
Borders, which employs about 10,700 people, scrapped a bankruptcy-court auction scheduled for Tuesday amid the dearth of bids. It said it would ask a judge Thursday to approve a sale to liquidators led by Hilco Merchant Resources and Gordon Brothers Group.
The company said liquidation of its remaining 399 stores could start as soon as Friday, and it is expected to go out of business for good by the end of September.
Borders filed for bankruptcy-court protection in February. It has since continued to bleed cash and has had trouble persuading publishers to ship merchandise to it on normal terms that allowed the chain to pay bills later, instead of right away.
“Following the best efforts of all parties, we are saddened by this development,” said Borders President Mike Edwards.
BTW, besides small secondhand operations, to my knowledge this will not leave ANY significant bookstore in the Central/Eastern/Maine geography.
But let’s increase taxes, because MORE FUND FOR THE GOVT WILL INCREASE JOBS?
GHOST TOWNS ARE COMING. Storefront by storefront.
See you all in the gulch.
BRING IT ALL DOWN
- Borders to Shut Down (allthingsd.com)
- No Borders. Book Giant Succumbs To Changing Industry (thewesternexperience.com)
- Dissent In The Ranks
The Hill: Hoyer bucks Obama on Israeli borders By Mike Lillis - 05/22/11 10:57 AM ET Pushing back against President Obama, House Minority Whip Steny Hoyer (D-Md.) suggested Sunday that Israel should not be required to shrink its borders as a precondition...
-
Borders Books Closing is a Good ThingFrom Planck's Constant: Four years ago I suggested it would be a good thing if Borders closed down and all of its employees laid off and sent home because Borders' act of appeasement would only embolden Muslims...
- Borders Books Policy: The Koran Is On Top
Yes, that's right, the koran must go on the top shelf. Yesterday, we saw that Borders will not carryan issue of a magazine they ordinarily carry, because the magazine ran the Mohammed cartoons. Now, today, here's an email (sent to LGF) from a...
- Don't Buy Books At Borders
... or Waldenbooks. Borders sucks up to Islamofascism. Borders and Waldenbooks stores will not stock the April-May issue of Free Inquiry magazine because it contains cartoons of the Prophet Muhammad that provoked deadly protests among Muslims in several...
- Bargain-hunters Flock To Solyndra Auction
Tags: Solar Energy Companies, Solar Energy Information If you’re in the market for an office chair, an automated inline glass coating system, or a souvenir T-shirt from a defunct solar company, you’re in luck. Solyndra , which filed for bankruptcy...