All our coverage of the Borders saga, from financial struggles to hope, to the final fall...
The stories are presented in reverse chronological order.Borders: Everything Must Go
Edwards and Henry Out at Borders
The last of the big pieces of Borders are about to go on the auction block. At Wednesday’s hearing at U.S. Bankruptcy Court, Judge Martin Glenn approved the auction of its leases on August 31 for small-format stores and on September 13 for superstores. That’s just one day ahead of the September 14 auction for the company’s trademarks, Web site, and other intellectual property.
Selling After Borders
In a filing with the SEC today, Borders announced several management changes, including the termination of company president Mike Edwards and executive v-p and CFO Scott Henry late last week.
A World Without Borders
Because of the company's shaky finances, most publishers began transitioning sales to other outlets long before Borders' bankruptcy filing. Even so, the crippled chain moved a lot of books; it was the nation's #3 bookseller, with 14% of the market last year, according to Bowker.
Borders Sale Approved
It might seem only reasonable for independents to gloat, at least a little, now that one of their biggest competitors, Borders Book Group, which had 1,249 stores in 2003, has begun closing its remaining 399 stores. But the response from indies to Borders's demise has been muted by the potential impact on the overall health of the bookselling business and the readers it serves.
Borders's Final Accounting, Pre-Liquidation
In the end, Borders went the way of other large retailers like Circuit City and Linens ‘n Things. At Thursday’s hearing, Judge Martin Glenn said that he will enter the sales order for Borders’s liquidation and going-out-of-business sales starting Friday.
Jockeying for Tomorrow’s Borders Hearing
Borders is adding up the losses, and a few profits, for its last monthly operating report to be submitted before the liquidation of its bookstores begins.
Bookselling Without Borders
Prior to tomorrow’s hearing at which Judge Martin Glenn will rule on Borders’s impending liquidation set to start on Friday, the chain is trying to lay to rest the nearly 90 objections that have been filed, including ones from Kobo.
Thank You, Borders
As much as independent booksellers may have wished that Borders had gotten swallowed up back in the 1990s when it put so many stores out of business and was well on its way to becoming a 1,249-store behemoth, the response to its impending demise has, for the most part, been measured.
Borders Closer to Folding
The strong show of support and appreciation continues for Borders, including this letter from Sourcebooks.
Borders Auction Canceled, Going-Out-of-Business Sales to Start Friday
With Sunday’s deadline passed and no bids to keep Borders open as a going concern, according to reports in the Wall Street Journal, it is growing increasingly likely that the troubled retailer will begin going out of business sales as early as Friday.
A List of Remaining Borders Stores
Borders confirmed that it will submit the proposal from a consortium of liquidators led by Hilco and Gordon Brothers to bankruptcy court on Thursday. If approved, as expected, going-out-of-business sales will begin under a phased roll out at stores and facilities starting Friday.
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With the fate of Borders Group to be decided early next week, below is a list, by store number of the current outlets, starting with the first store in Ann Arbor.