I really do detest bad news, especially considering when it has played a big part in this blog and my collection of otaku wares, however after reading this, I suddenly feel quite ill again. I am talking about the current issues that both Borders stores in the US and Australia are currently having. A few days back, the US company announced they were having difficulties and have now filed for Re-organisational Protection under Chapter 11 of the Bankruptcy Code. Currently this means that they should remain in business, however 30% of their stores at least will be closed in America and a number of other things will take place. A short while ago, a new website of theirs cleverly known as “Borders Group Inc. Case Administration Website” Link (Click Here) has this posted on it:
Borders’ Business Operations Continue As Normal
In light of the ongoing impact of the difficult economy of the past few years, and the rapidly changing retailing environment for books and related products, it is essential that Borders restructure itself to reposition its business to be viable and successful over the long term.
To that end, we have determined the best route to undertake the necessary reorganization of our business is through the filing of a petition for reorganizational relief under Chapter 11 of the Bankruptcy Code.
Please be assured that during this reorganization period:
Borders stores are open for business. We will continue to provide our customers with a vast assortment of books in a warm and relaxing environment – and we intend to build on this. Our stores will continue to be places where families can gather to enjoy enriching events including author readings and signings, book clubs as well as kids storytime and parties.
Borders.com is operating as usual. We are fulfilling online orders as customers choose from among more than two million books, music, movies as well as other entertainment items.
Borders will continue to maintain its strong national presence. Our nationwide network of stores is a key foundation of the Borders brand. Borders, however, will be closing underperforming stores within our network over the next several weeks. Should your local store be affected, please visit Borders.com to find another Borders store near you, or to purchase our vast selection of books and other merchandise on-line.
Through this process, we intend to put in place a sound financial structure, enhance Borders’ technology to better benefit you, our customers and introduce new and exciting products related to our book offerings – all while providing you with great customer service
Our Borders Rewards programs, including Borders Rewards Plus, remain in effect. Customers can continue to earn and redeem their Rewards in stores and on Borders.com and they’ll also continue receiving coupons. As always, we are honoring gift cards, which can be redeemed in stores and online at Borders.com.
To my Aussie readers, you may not think this is such a big deal as it is an American company and all that. BUT sadly, the company that runs both Borders and Angus and Robinson over here has also been met with a bad reception, with RedGroup putting both chains under administration. Sadly I have never really studied business so I do not understand much on it (If anyone could comment on what “Being put under administration” is it would be a great help), however from what I can tell… things are looking bad. As this was very recent, there was been no restructure or closure notice however I can assume that we will have one in the coming days.
After my jump, my thoughts.
If anything, I have to thank the Borders stores for supplying me with more then half of my manga collection (Currently taking up most of my bookshelf) and draining lots and lots of money from my wallet. Originally it was an accident that I found the store, I went to meet a friend of mine up at their Chermside store and saw it when walking back to the Cinema….. $300 dollars later I walked out of there with at least 20 manga volumes. They have also been vital in opening an online store that can be found here and seems to still be running orders. This is very saddening as whilst I admit, you cannot stop technology, I do believe that physical copies of books are always significantly better then the electronic version and there is nothing like sitting down with a good look, that has a bulk to it rather then just an electronic screen. Besides, not all good books are available in e-book form, so if we insist on relying on E-Books, a large number of good books may be overshadowed. Besides, E-Book manga isnt available yet, so it may kill off the manga industry slightly….
Of course, what I am saying is not mean’t to change your opinion, I mean, that is your own, however I do implore people who are after a good book to read, to check out your local book store, Borders or not, to show that book stores still have some value in our literature careers. Currently a list of closing Borders stores are listed on the first link above whilst there is no closing store announcements as of yet, however hopefully they will jump back.
That is all I have to say on this matter…… reviews should start in a day or two, getting better how still not feeling perfect.