Well, it’s time to say goodbye to Borders. The beloved book store chain is liquidating. Read more from The Wall Street Journal.
Since all the Borders stores in my area have already closed, I’ve pretty much come to terms with this loss, but it still saddens me. Borders was my favorite book retailer, and I will miss it.
Of course, there’s major implications for the publishing industry, independent bookstores, and ebook sales.
From The New York Times:
Publishers said that with Borders gone, they would plan for smaller print runs and shipments. Employees at major publishing houses worried about layoffs because many companies have staff members who work only with Borders.
The closing could particularly hurt paperback sales. Borders was known as a retailer that took special care in selling paperbacks, and its promotion of certain titles could propel them to best-seller status….
The closings will almost certainly be a boon for Borders’ competitors. Other national book chains, like Barnes & Noble and Books-A-Million, could move into stores vacated by Borders. Some competing bookstores are already nearby. A spokeswoman for Barnes & Noble said that 70 percent of Barnes & Noble’s stores are within five miles of an existing Borders store.
Independent bookstores, historically the foes of the big chains, stand to benefit from the closings of Borders stores. That effect has already begun to be seen all over the country from the Borders stores that closed earlier this year.
The disappearance of Borders likely will hurt e-book sales as well, since some e-book readers visit bookstores to see what books they might like to read before buying the electronic version, Norris added.
Owners of the Kobo e-reader will still be able use Kobo software to buy and read books. And Kobo officials said users of Borders e-book accounts, which began transitioning to Kobo in June, will be able to access their e-books uninterrupted.
I give my condolences to all bibliophiles, Borders lovers, and the 10,700 employees who are losing their job because of this. RIP Borders.