July 2011

It's Official: Borders Is Dead

This afternoon, Borders officially announced its Chapter 11 bankruptcy and liquidation, with its remaining stores closing this week, and liquidation sales beginning as soon as next Friday. Even though the news is hardly unexpected, I think a lot of people (myself included) had hoped they might be able to hold out and turn the corner.
Many people will cheerfully dance on Borders' grave. I am not one of them. For one thing, this is the death of 400 bookstores across the country. It's hard to be gleeful about that; surely even schadenfreude can only go so far? 400 bookstores is 400 bookstores, regardless of whose name is on the masthead. It's a bloodbath, plain and simple.