In two different statements filed with the SEC, Borders has further cataloged the many ways in which they excel at losing money. Let us count the ways: In the most recent operating month under bankruptcy, between February 27 and March 26, Borders preliminary calculation is that they lost $24.3 million on sales of $91.4 million and “other revenue” of $73.8 million. In the prior month, between January 30 — two weeks before filing for Chapter 11 — and February 26, the company lost $28.3 million, on sales of $127 million (and other revenue of $38.5 million). Yes, that’s a loss […]
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Bookselling: Court Approves Davis-Kidd Deal; Monobookism; and More
Yesterday a Lexington bankruptcy court tentatively approved the results of the Joseph-Beth auction pending the entry of a sales order that’s expected Wednesday afternoon. The Lexington Herald-Leader reported the deal will close at the end of business Thursday, with the new owners taking over operations Friday morning. It puts three stores in the hands of Booksellers Enterprises for total consideration worth $3.98 million, with Joseph-Beth coo Mark Wilson serving as ceo of the new operating company. Liquidators Gordon Brothers bought the Virginia store for $672,000, and will sign the space over to Books-A-Million. Founder and former owner Neil van Uum’s […]
Robert B. Parker Estate Taps New Writers to Continue Spenser and Jesse Stone Series
Putnam announced that two series by bestselling mystery writer Robert B. Parker, who died in January 2010, will continue in the hands of new writers. Producer and screenwriter Michael Brandman will write the first new Parker brand book, ROBERT B. PARKER’S KILLING THE BLUES, which continues the Jesse Stone series and which will publish on September 13. Brandman already has considerable experience with the character as he co-wrote and co-produced the television movies featuring Tom Selleck as Jesse Stone. Ace Atkins, whose last few novels have been published by Putnam (and who begins a new series of his own with […]
Penguin Introduces Book Country, A Community for Genre Fiction Writers
Today Penguin launched the public beta of Book Country, a new subsidiary company and website whose aim is to build a writing community and social network centered around genre fiction, especially romance, science fiction & fantasy, and mysteries & thrillers. Membership is free and allows writers to post unpublished manuscripts and receive detailed feedback–ranging from genre categorization to more focused comments on specific craft aspects–from community members, essentially acting as an ongoing online workshop. Starting this summer Book Country intends to generate revenue by having members to self-publish print and e-book editions of their work for a fee, and in […]
Comprehensive Nook Color Update Includes Email, Apps, and Social Networking, Plus New Ad Campaign
This morning Barnes & Noble confirmed what had been rumored over the weekend a major firmware update to Nook Color (now on Android’s 2.2/Froyo OS) that makes the device a lot more like a proper tablet, with new apps, additional illustrated and enhanced ebooks, the ability to check email, more magazines for sale, and social networking. Nook Email allows users to check a variety of accounts, while social networking service Nook Friends allows for book-swapping and targeted library lending, “liking” titles and viewing other customer recommendations. “Frankly most of the things they have asked us about are very popular tablet […]
Bookselling: The Future of Davis-Kidd; Waterstone’s Rumors; Store Closings; and More
The results of last week’s auction of remaining Joseph-Beth stores seemed to spell an uncertain future for its Davis-Kidd location in Memphis. Liquidation firm Gordon Brothers was the top bidder, and will start to wind down operations (pending court approval on Wednesday) unless a workaround can be found. That workaround, according to the Commercial Appeal, is if landlord Laurelwood Shopping Center and its president Tom Prewitt decides to help. “We tried to reach out to the mall (Laurelwood) ownership prior to the closing of the auction and work out a deal, but were rebuffed,” said Joseph-Beth ceo Mark Wilson. Bookseller […]