Store Closing List Released by Borders, 2010 Losses at $168 Million

The list of stores Borders hopes to close compiled by Hilco, the company hired to liquidate stores targeted for closure, has been released as part of the bankruptcy filing. Of the 642 stores operated by Borders, three were in Puerto Rico (two will be closed) and the balance in the U.S. Most of the 200 stores to be closed are outlets with over 20,000 square feet.

Borders Bankruptcy Filing and Store Closures

Borders Filing Said to Be Imminent

All signs point to Borders filing for bankruptcy protection no later than Wednesday morning. The company has instituted an ordering freeze and Ingram, the company’s lifeline to publishers, has stopped supplying the retailer. Several publishers told PW if the filing does not come Tuesday evening, Borders will file Wednesday morning. The timing for the filing, one publisher said, is in the hands of the bankruptcy lawyers.

New Clients for S&S and Consortium

It happens every spring, publishers shift distribution. Consortium Book Sales & Distribution is adding four clients this season. Books from two California-based presses are available now: Behler Publications in Lake Forest, which specializes in books chronicling personal journeys with socially relevant themes, and boutique publisher Nortia Press in Orange County, which focuses on current events, foreign affairs, business, and historical fiction.

Borders Watch: GE Capital Looking for Help

As Borders runs out of options and prepares to file for Chapter 11 bankruptcy protection, GE Capital, which committed to provide $450 million debtor-in-financing credit, is trying to limit its exposure, according to one major publisher.

Bookstore Sales Fell 1.4% in 2010

Bookstore sales fell 1.4%, to $16.50 billion in 2010, according to preliminary estimates released from the U.S. Census Bureau. The decline came despite a late rally in the year; a 5.3% increase in November sales was followed by a 2.3% gain in December when sales hit $2.09 billion. The December increase reported by the government was consistent with reports from many bookstores who reported their best holiday season in three years.

Still Waiting for Borders

With nearly every major news organization reporting that Borders will file for bankruptcy this week, the question among publishers is becoming more and more can the chain avoid a Chapter 7 filing that would result in the liquidation of the company. Borders had virtually no contact with publishers last week on whatever plans it is working on, even though it is believed an agreement by publishers to resume shipping books to Borders will be necessary to obtain debtor-in possession financing that will allow it to reorganize under Chapter 11.

Barnes & Noble Courts Amazon Affiliates

With Amazon determined to avoid collecting sales tax in as many states as possible for as long as possible, Barnes & Noble issued an open letter to Amazon affiliates urging them to sign on to its affiliate program, which it says has over 13,000 members.

GLiBA and MBA to Hold Joint Meeting

Great Lakes Booksellers Association executive director Deb Leonard and Midwest Booksellers Association executive director Carrie Obry may still be learning the essentials of their new positions, but they're not wasting any time mixing things up. On March 19, MBA and GLiBA will hold a joint spring meeting in Milwaukee. It's actually, in Leonard's words, a "triple meet," as the ABA is participating as well, holding an educational session for booksellers on the IndieCommerce program, as well as an open forum for discussion of industry issues.

Bookmarc: Bookstore as Luxury Brand

Bookstores may be many things, but fashionable isn’t usually one of them. That could change now that designer Marc Jacobs has put his imprimatur on Bookmarc stores on both coasts and added branded Bookmarc sections to a handful of MJ stores from Provincetown, Mass., to San Francisco, as well as in London, Paris, and Milan. He’s also planning to open two more stand-alone Bookmarcs in Washington, D.C., and Shanghai.

Waiting for Borders

As another week comes to a close, the situation at Borders remains status quo--at least for the moment. Ingram continues to be the chain's lifeline to the publishers, continuing to ship books while few publishers are. There was no movement among publisher in accepting Borders proposal to exchange missed payments for notes, and publishers, like the rest of the industry, are waiting for the next shoe to drop.

Two NE Booksellers Launch Network of Independents

Two long-time independents, Susan Novotny, owner of the Book House of Stuyvesant Plaza in Albany, N.Y., and David Didriksen, owner of Willow Books in Acton, Mass., are taking advantage of the shrinking footprint of chain retailers by launching Bookstore Solutions Management, or BS Management as it is affectionately known. The idea is to open a network of independent bookstores in spaces previously occupied by chain bookstores that had become community destinations.

Powell’s Lays Off 31 Workers

In a sign that no bricks-and-mortar bookstore, even one with a strong online presence, is immune from today's economic conditions, 40-year-old Powell’s Books in Portland laid off 31 employees yesterday.

Sales Rise, Earnings Fall at Indigo

Led by Kobo e-readers and other nonbook items, sales at Indigo Books & Music rose 14%, to C$387.6 million, in the third quarter ended January 1. Profit in the quarter fell to C$30.2 million from C$34.5 million. Like Amazon with the Kindle and Barnes & Noble with Nook, Indigo said that Kobo e-readers were the "hottest items in our stores over the holidays." Gifts and toys also sold well and in a statement Indigo CEO Heather Reisman said the performance of those categories, "reinforced our decision to continue expanding these categories."

Half Price Books Goes with Monsoon

Many booksellers struggle to find the right online presence, none more so perhaps than multi-store independents. A decade ago, Half Price Books in Dallas experimented with putting its entire inventory online. Later it abandoned that model and added an Amazon buy button to its site. Now HPB, which specializes in used and bargain titles, is partnering with Monsoon Commerce Solutions and Alibris to offer more than 120 million items from independent sellers. It seems to be working.

Book Nook to Open in Ipswich

River's Edge in Ipswich, Mass., on Boston’s North Shore, may not be the first gift shop to add a shelf of books, but it could be the only one to expand it into an entire bookstore, albeit a small one. In mid-April, Paul Allen-Webber, owner of the 13-year-old store, will close his neighboring Ipswich Party Shop and open Book Nook at River's Edge in the 500 sq. ft. space it occupied.

New Indie Opens in Iowa

After months of wondering what new business would be moving into a 1,300-square-foot downtown retail space where renovations, shrouded in secrecy, were being completed, the residents of Decorah, Iowa, discovered February 4 that an independent bookstore will open there by mid-February. Kate Rattenborg, the owner of Dragonfly Books, unveiled her new business venture Friday evening at a black-tie soiree/50th birthday party with about 130 in attendance. A grand opening celebration is scheduled for March 19.

Freemium Boosts e-Book Sales for F+W

"I never thought I’d say the word 'freemium,'" says Kate Rados, group marketing director for F+W Media. But after launching a successful three-day free e-book campaign for Eric Lamet’s Holocaust memoir A Child al Confino (Adams Media)late last month to mark Holocaust Remembrance Day, she’s not only saying the "f" word but planning a new one for Valentine's Day, Pride and Prejudice: The Wild and Wanton Edition (Adams Media). "It's a different genre and timing," she says. "We'll see how it affects the other Wild and Wanton Edition, Wuthering Heights."

Selling Academic African-American Titles to a General Reader

Looking to expand the readership of its African-American History series to a general audience, scholarly publisher Rowman & Littlefield is editing the titles for accessibility and targeting trade reviewers, teachers, and retailers with galleys, flyers, and direct mail. The house is also working to offer e-book editions for all of its frontlist titles, including African-American titles.

The Heart of the Matter

As memories fade of the strong 2010 holiday season that finished up a flat year, the bookstore scene across the Midwest continues to shift, with stores opening and closing. According to the Midwest Booksellers Association, whose membership is located in nine states, 39 MBA stores closed between 2006 and 2010, while 28 stores opened.