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Chapter 11 for Borders, New Chapter for Books
Keywords:
The unravleing of Borders bookstores chain in the US, after Borders management failed to anticipate and build on the new trend to electronic books and made a series of mistakes. Borders filed for Chapter 11 bankruptcy protection in early Feb. 2011. Its online strategies simply failed to come up with answers to the cultural trend to online shopping for books and buying e-book readers. A serious bad decision from which Borders never recovered was to transfer its internet operations to Amazon Inc. in 2001. Amazon quickly built up customer relationships with millions of customers. Other decisions followed which put Borders in an untenable position. Borders increased its debt from $159 million in 2001, to $554 million for the fiscal year ended Feb 2, 2008, using the money for overseas expansion and share buybacks, which did little to address the looming internet problem. By contrast Barnes and Noble took the opposite strategy of paying down all of its $667 million in debt. Borders has modest beginnings starting in 1971, when Tom and Louis Borders, started a small used bookstore. By the 1990's bookstores with tens of thousands of books in one location were changing the bookselling landscape, as smaller bookstores were closing. Borders was able to ride this wave. When the next wave hit in 2010 with the internet, Borders was unable to respond and went into permanent decline. A costly trip through bankruptcy court means Borders will have to close one third of its 674 Borders and Waldenbooks stores, and cut a large part of the 19,500 staff. This will mean customers shifting to Amazon, Barnes& Noble, Apple Inc. and Google Inc. Mike Shazin, CEO of Idea Logical Co, a New York consulting firm, says he expects 50% of bricks and mortar bookstores to go away in 5 years, and 90% to go away in 10 years.
Borders bookstore in the U.S.
02/12/2011
Grouped Articles
Chapter 11 for Borders, New Chapter for Books
Wall Street Journal 02/12/2011
For Borders, a Scramble to Be Lean
Wall Street Journal 03/14/2011
Borders on Brink of Liquidation
Wall Street Journal 07/14/2011
Calling Off Auction, Borders to Liquidate
New York Times 07/19/2011
Lamenting Borders' Death at 'Store No. 1'
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Borders Succumbs to Digital Era in Books
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The bookselling industry
05/21/2010
The landscape of bookselling is changing rapidly. Experts estimate that with the shift to e-books 90% of bookstores will go away by 2020.
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Wall Street Journal 05/21/2010
Chapter 11 for Borders, New Chapter for Books
Wall Street Journal 02/12/2011
Cheapest E-Books Upend the Charts
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Wall Street Journal 01/23/2012
Wall Street Journal 03/08/2012
Wall Street Journal 04/13/2012
Barnes & Noble strategies
05/21/2010
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After Weak Holiday Sales, Nook Tablets Will Add Googleâs App and Media Store
New York Times 05/03/2013
Barnes & Noble Pulls Back After Losses In Tablet Wars
Wall Street Journal 06/26/2013
Wall Street Journal 05/21/2010
What's Barnes & Noble's Survival Plan?
Wall Street Journal 04/18/2014
Barnes & Noble's Valuable Legacy
Wall Street Journal 09/09/2014
Barnes & Noble, Microsoft End Nook Pact
Wall Street Journal 12/05/2014
Barnes & Noble management
05/21/2010
Grouped Articles
Barnes & Noble Pulls Back After Losses In Tablet Wars
Wall Street Journal 06/26/2013
Wall Street Journal 05/21/2010
What's Barnes & Noble's Survival Plan?
Wall Street Journal 04/18/2014
Barnes & Noble Stock Sinks on Wider Loss
Wall Street Journal 09/09/2015
At Barnes & Noble, Chief Is New, but Earnings Woes Are Old
New York Times 09/09/2015
Barnes & Noble Seeks Next Chapter
Wall Street Journal 01/06/2012
E-books
10/19/2009
Grouped Articles
Is E-Reading to Your Toddler Story Time, or Simply Screen Time?
New York Times 10/11/2014
German Publishers Recoil from E-Books
BusinessWeek 10/19/2009
Wall Street Journal 12/16/2009
Wall Street Journal 05/21/2010
Price Cuts Electrify E-Reader Market
Wall Street Journal 06/21/2010
Chapter 11 for Borders, New Chapter for Books
Wall Street Journal 02/12/2011
Contrasting strategies of Borders bookstores and Barnes & Noble
05/21/2010
Borders bookstores failed to come with an internet strategy and went into bankruptcy. Barnes & Noble survived.
Grouped Articles
Barnes & Noble Pulls Back After Losses In Tablet Wars
Wall Street Journal 06/26/2013
Wall Street Journal 05/21/2010
What's Barnes & Noble's Survival Plan?
Wall Street Journal 04/18/2014
Barnes & Noble, Microsoft End Nook Pact
Wall Street Journal 12/05/2014
Chapter 11 for Borders, New Chapter for Books
Wall Street Journal 02/12/2011
Barnes & Noble performance
05/21/2010
Grouped Articles
After Weak Holiday Sales, Nook Tablets Will Add Googleâs App and Media Store
New York Times 05/03/2013
Barnes & Noble Pulls Back After Losses In Tablet Wars
Wall Street Journal 06/26/2013
What's Barnes & Noble's Survival Plan?
Wall Street Journal 04/18/2014
Barnes & Noble's Valuable Legacy
Wall Street Journal 09/09/2014
Barnes & Noble, Microsoft End Nook Pact
Wall Street Journal 12/05/2014
Barnes & Noble Stock Sinks on Wider Loss
Wall Street Journal 09/09/2015
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