Borders Books Closing

ORIGINALLY POSTED 13 FEBRUARY 2011

Borders Books is expected to file bankruptcy this week following declining annual revenues, increasing rent obligations, and an increasingly popularity in e-books.

According to the Wall Street Journal, Borders is declaring Chapter 11 bankruptcy protection after failing to snag publishers in a plan to restructure a debt that totals over $500 million US dollars.  The filing of bankruptcy will result in a loss of around 20,000 jobs and the closing of 1/3 of the remaining 674 Borders and Waldenbooks stores.  In 2009 the group closed over 204 stores to reduce further debt.

Although e-books surge in popularity has been cited as one of the main reasons Borders is failing, many offer differing opinions on this claim.

What do you think about e-books?  Are they the cause of stores like Borders failing?  Scroll to comments at the bottom of the page and comment through Facebook or NERDTREK.com if you prefer.

(NERDTREK.com is a safe and trustworthy website, I’m just a nerd blogging from my living room on a Sunday evening while listening to old school jazz.)


More articles you may enjoy:

Facebook Comments

comments

About Jonathan G. Nelson

Jonathan G. Nelson is the editor-in-chief and owner of NERD TREK. He is also owner/publisher at AAW Games / AdventureAWeek.com, a tabletop gaming company based in Snoqualmie, WA. Connect with Jonathan via Facebook.