In Friday’s Lunch we compared Borders’ presentation to publishers on Thursday as Groundhog Day–a repetition of the same basic plan they had been talking about since late December–and it also appears that there may not be a final decision on the bookseller’s fate until Groundhog Day itself, the rough deadline set by Borders. The WSJ adds the name of the law firm that is representing Borders in the restructuring talks (Kasowitz, Benson, Torres & Friedman), and provides an estimated amount for the new credit line under negotiation with GE and others: “$500 million or more.” That is considerably less than […]
Bookstores
One Way to Sell eBooks from Bookstore Shelves
BTW has an interesting piece on how two stores, Green Apple Books in San Francisco and McLean and Eakin Booksellers in Petoskey, Michigan, are using their shelves to help promote and sell ebooks. They have created shelf-talkers with QR codes. “Customers can scan the square codes with their smartphones and go directly to the featured titles on the store’s IndieCommerce website.” Green Apple’s Pete Mulvihill says “we’ll put these all over the displays at the front of the store on any agency plan titles. If nothing else, we think it’ll lead to plenty of customer questions. And at best, we […]
Borders Lays Off Another 15 Staffers
As publishers met with Borders executives yesterday afternoon to discuss restructuring options and credit negotiation agreements, the company announced today that another 15 staffers have been let go. Spokesperson Mary Davis issued a statement that, “As part of its brand transformation process, which includes enhanced cost efficiencies measures, Borders Group today eliminated 15 positions within its field organization. The number includes 9 regional merchandising manager, four event marketing manager and two district manager positions. “The affected employees are being offered, in some cases, an alternative position, while the rest of the employees will receive severance in accordance with company policy. […]
Bookselling: British Bookshops Goes Into Administration; Book Sales Boost Tesco; and More
Sussex-based chain British Bookshops as gone into administration, with recovery specialists Zolfo Cooper on board and Simon Appell, Fraser Gray, and Stuart Mackellar appointed as joint administrators. The news comes less than a year after managing director John Simpson led a buyout from turnaround specialists Endless, and added 12 stores for a total of 51 across the UK. Earlier today the Bookseller reported that Macmillan Distribution had stopped shipping stock to the retailer for non-payment of its October account, despite repeated assurances the bill would be paid by the end of December. One publisher said the store “has been refusing […]
The Mystery Bookstore To Close on January 31
Just days after Borders closed its Westwood store, the west side Los Angeles neighborhood learned it will lose another: The Mystery Bookstore will close its doors on January 31. In a note to authors and customers sent Tuesday afternoon, owners Kirk Pasich and Pamela Woods said, “We simply cannot compete with the Amazons of the world and the impact of the economy.” A note on the store’s website adds “We’ve been proud and grateful to serve you. We treasure the friendships we’ve made through the store, and hope to keep them, wherever we all scatter, as we keep reading and […]
Bookstore Closings: Syracuse Borders Joins Unconfirmed Others, As Portsmouth, NH’s Gulliver’s Announces Closing, Too
Add to the list of upcoming Borders’ closing their outlet in Syracuse’s big Carousel Center mall. A supervisor there tells the local paper they will close some time in March, citing only “a lease situation.” It is the only bookstore in the big shopping center. That closing comes on top of the 14 Borders that closed last week, and another approximately 17 stores that publishers have been told will close by the end of January (though the company has so far declined to confirm that number, even though publishers have been provided a list of stores and expected closing dates). […]