submitted 313 days ago by psplove in "Stores / Merchants"
Almost 400 stores across the country will be closing and out of business. That means more than 10,700 people will lose their jobs. If you have Borders Gift Card. Use it now.
So sad. Once a pioneer in the book superstore concept, they lost out to the popularity of Internet sales and electronic books. Their first wave of closings increased the vacancy rate in shopping centers from 4.2 to 9.3%; now closing the rest of the chain is expected to push the vacancies to 18.8%.
The nation's second-largest bookseller said it will begin liquidating stores as early as Friday. The only two bidders for the company were two liquidation firms, Hilco Merchant Resources and Gordon Brothers Group.
Borders said it would ask the court Thursday to approve the bid by the companies to purchase Borders' assets and administer the liquidation process.
The move came after a bid fell through from private-equity firm Najafi Cos. that could have kept the chain operating. Creditors and landlords said liquidation was a better deal.
According to a blog at The New Yorker,
Liquidation will continue through the summer and is likely to be complete by September.
I always found their books to be overpriced, but this still stinks. I suppose Barnes and Noble is doing better because they have the Nook. At least they're doing their best to keep up with the times.
Borders Rewards Perks has partnered with OO.com to ensure that you have access to your account, including your WOWPoints.
Many of you have asked our customer service team what will happen to your account. To ensure the best experience for you, your account will be seamlessly transitioned (WOWPoints included).
As of now, the ID and password you use for Borders Rewards Perks will also work on OO.com. Your WOWPoints will transition in the next 30 days.
For now, you can continue shopping at Borders Rewards Perks.
What will happen to my WOWPoints? Your WOWPoints will be honored. They will be moved to OO.com over the next 30 days. Once there, you can use them just as you do now.
What will happen to my vouchers, reminders & other account settings? They will also transition seamlessly.
Who runs OO.com? OO.com is run by the same company that runs Borders Rewards Perks—Next Jump, Inc. So this makes the transition easy.
Entire Store now 20-40% off • 20% off all kids' books, ereaders, cookbooks, fitness, travel & more • 30% off bestsellers, business & romance; just reduced calendars & music • 40% off all blu-ray, video games, newsstand & greeting cards
I went to a local Borders that was still open. It seems they will all be closed by the end of this week. Everything was 80-90% off. I remembered to go and use up the straggling gift cards the kids had accumulated. As you might imagine, an odd assortment of things. Lots of young adult vampire leftovers; manga; travel; diet; sports; science fiction; politics; biography. Picked up Thesauruses for my older kids for $.70 each. Some books on writing style and etymology. A business book I've been waiting to read, The Starfish and The Spider; and a bunch of other interesting things for next to nothing.
All the stores have closed. Massachusetts workers at the Mansfield Crossing location were so frustrated by the end that they posted their feelings on a giant pad near the front of the store, "Things we Never Told You: Ode to a Bookstore Death." The rant angered the few remaining customers and went viral on the Internet. http://www.the-digital-reader......szA941.jpg
While the "Ode's" tone is sarcastic, one of its authors described it Wednesday as a kind of plea for help from those going down with the sinking ship.
"It was kind of a final passive-aggressive note that I started on a boring Sunday when there was nothing to do but pick up after people," said the former Mansfield Borders employee, who spoke on condition of anonymity. "It was a final straw with people being frustrating and rude. All these things we were never able to say to people."
Anyone still redeeming Borders gift cards (Katie Byrd?)? I have $1.27 leftover on my final card. Use the number and reply that it has been used. 6042 0842 05260 4376
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