Posted on 07/18/2011 3:21:56 PM PDT by Sprite518
Borders Group Inc. said it would liquidate after the second-largest U.S. bookstore chain failed to receive any offers to save it.
Borders, which employs about 10,700 people, scrapped a bankruptcy-court auction scheduled for Tuesday amid the dearth of bids.
The chain said it will ask a judge Thursday to approve a sale to liquidators led by Hilco Merchant Resources and Gordon Brothers Group.
The liquidation of the company's remaining 399 stores could start as soon as Friday, and the chain is expected to go out of business for good by the end of September, the company said.
(Excerpt) Read more at online.wsj.com ...
I wish the U.S. borders were shutting down instead.
10,700 uberliberals to be unemployed.
HA...that’s what I thought this was about...by the headline...
0bama-economy / progressive-economy ... tough to tell them apart
either way, they suck the life out of business, forcing more and more people to depend on the government... and who do people think is the party of government services?
yup. dems.
it’s obviously in the dems best interest to crater as many companies as possible
Janet Napolitano is sure to take the credit. /sarc
Not a chance.
According to soft-headed Liberals it would cost billions f dollars to do, it would be very dangerous and it would take at least 10 years to effectively implement an environmental impact survey before the actual “shutting down” could occur.
Oh, what is the use? Why not just give them all voter IDs ~ as if you even needed that ~ and call it a day?
That’s what happens when you sell self help books nobody wants.
Maybe there are still some jobs left at Mickey D’s?
They are also Americans. Borders is the last bookstore left in many neighborhoods in my area. It is a terrible shame, IMO.
It’s okay...I grew out of playing the liberal game of ‘hide and seek’ long ago. You know that game, where the poor-selling tomes by liberals are prominently displayed in the front of the store, and best-selling books by conservatives are stacked face-up along with dozens of other piles of books on a table somewhere in some side aisle near the back of the store. One twist in the game is when liberal customers hide the stack just by plunking some other book on top.
No ‘hide and seek’ on Amazon.com.
I never understood the bookstore marketing model of allowing people to read their magazines for free, and spill coffee over the magazines and books.
Well said, sir. Borders was a company that paid taxes and hired Americans. No outsourcing. Like you said, it's a shame to see a company like this fold.
Regardless, this is more bad news.
Another “Hope & Change” success story!
With a cafe in the store, they can make money off coffee and snacks.
When we were kids my brother got thrown out of the drugstore for reading the comics.
Nowadays with more choices for shopping and fewer operator-owned stores, kids can avoid stores like that and find other places to read their graphic novels.
Borders may be going, but I'd bet that old-school pharmacy went first.
i usually hate to see businesses shut down but good riddance to borders...there is one right across the street from my church- its all uber liberal, Bush hating leftists that hypocritically drive around in $60K cars and scream about the poor....
quick story about the Borders i am speaking about...July of 2000 i was getting married- our church service was scheduled for 2:30 rather than the usual 3PM... the priest was my cousin and he's long winded and our reception hall was forty minutes away so my wife wanted to give extra time...
anyway the organist never shows up as 2:30...or 2:35...or 2:40....no music- i am in the back sweating it out and my bride is in the limo when her dad explains the situation to her...
my best man- and best friend, says “wait here”...he goes running over to Borders to their music department...he tells the staff the situation and asks for any cassette tapes/CD’s with “wedding music” (here comes the bride, etc)...he's decked out in head to toe in full tuxedo...
the staff member tells him “if we have any they would be over there” and points- does not help him find it...my buddy goes over and frantically grabs two tapes that have wedding music...
here's the kicker- there's a long line at the Borders cashier- he tells the manager the story- NOBODY LIFTS AN EFFIN FINGER FOR HIM!!!! no one lets him get to the front, helps him out or anything....he runs up to the cashier, slaps $25 on the counter and runs out, back across the street- as he was running out they were yelling at him for cutting the line....
oh- the organist finally showed up at 2:50PM, two minutes before my buddy returned from Borders- the organist thought it was a 3PM wedding...
Exactly, my DIL got laid off about two months ago from a Borders closing, now she is on the unemployment roll, and with this economy finding any job is hard to do....
Nuts.
Their strategy was stupid...everywhere there was a Barnes & Nobe..Borders was right next door...insipid..
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