B&N for sale/Borders Files for Bankruptcy

Discussion in 'Off The Beaten Track' started by Wyliefan, Aug 5, 2010.

  1. Wyliefan

    Wyliefan Well-Known Member

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    Don't think I like the sound of this . . . :(
  2. smurfy

    smurfy Well-Known Member

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    Very interesting. Wonder if the big store is out, and the smaller, mom & pop style store would could do very well. I love the small bookstores (what is left of them), but B&N has always has good customer service too. As much as I love my computer etc, wandering in a bookstore is a favorite pasttime. Hope that does not go away.
  3. ChelleC

    ChelleC Well-Known Member

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    Wow, neither do I. :(
  4. rfisher

    rfisher Satisfied skating fan

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    Unlikely. The big stores get breaks from the publishers because they buy in volume. The smaller stores won't. This hurts the publishers and authors more than anything.
    PeterG and (deleted member) like this.
  5. sk9tingfan

    sk9tingfan Well-Known Member

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    It sounds like yet another legendary store that originated and was a mainstay in New York City has overexpanded in terms of bricks and mortar. Another example of this was Fortunoffs that started in East New York near the El, emerged during the sixties and overexpanded. It closed last year :(
  6. Wyliefan

    Wyliefan Well-Known Member

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    I love all bookstores -- big, small, new, used, chain, mom & pop, it doesn't matter. I can't bear to see any of them go out. When it comes to bookstores, I'm like Pat in the L. M. Montgomery books, who used to pitch a fit every time someone cut down a tree.
  7. pilgrimsoul

    pilgrimsoul Active Member

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    This does not bode well - my whole family has bought Nooks over the last few months and we love them. I fervently hope there is no dilution/discontinuation of service/features or worse, additional charges for using our Nooks when B&N gets sold.
  8. mikey

    mikey ...an acquired taste

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    I am probably in the minority, but I prefer ebooks over traditional books in every way imaginable. I wonder if the new medium has had any effect in this case, although it's probably too soon for that.
  9. orbitz

    orbitz Well-Known Member

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    I wonder if Borders will also go this way.
  10. danceronice

    danceronice Corgi Wrangler

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    I think where Mom & Pop stores have it over the big ones is they generally can operate in specialty markets (children's only, used, special subject) that attract a specific buyer group more likely to shop locally than use Amazon. But B&N and Borders, being basically "Amazon with more overhead", stand to lose big--if you can get the mass-market national releases cheaply for Kindle (which is where I've put my money, figuratively, on which reader is going to win the VHS/Beta-style war of Kindle/Nook) and aren't trying to browse for a rare/odd item, you will use Amazon.
  11. Wyliefan

    Wyliefan Well-Known Member

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    I had thought Borders would go first, actually. A friend of mine heard a rumor about it. But maybe she heard wrong . . .
  12. Cheylana

    Cheylana Well-Known Member

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    Sad but I saw this coming. Even putting aside the whole digital book download (which doesn't really appeal to me, I like holding actual books), I can get most books B&N sells much cheaper by buying at The Strand, or ordering on Amazon, or bidding on eBay, or borrowing from the library. Surely many others are doing the same. Having said that, I hope B&N can figure things out, stay afloat. Otherwise, store closings means yet more people out of work. :(

    Wyliefan, I heard a similar rumor about Borders, but I guess they've figured things out. Maybe the music sales help keep them going? Although their CDs and DVDs are also pretty expensive.
  13. orbitz

    orbitz Well-Known Member

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    The Borders close to where I live had reduced their CDs and DVDs sections significantly from a few years ago. I don't undestand why you would pay more for a CD or DVD at Borders when you can get it cheaper at Best Buy or online at amazon, for example.
  14. Wyliefan

    Wyliefan Well-Known Member

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    Mine too. I thought at first they were going to get rid of them altogether, but it hasn't happened yet.
  15. skatingfan5

    skatingfan5 Well-Known Member

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    I had heard that Barnes and Noble were going to buy out Borders -- guess that was wrong or things have changed for the worse since I first heard those rumblings (about 18 months ago or so).
  16. vesperholly

    vesperholly Well-Known Member

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    The only Borders in my area closed a year or two ago. Our biggest mall just underwent a renovation/addition, and one of the anchors was supposed to be B&N, and it never happened. :(

    I hope they find a seller or a way to stay afloat. I collect the B&N Classics paperbacks, because I love the 5x7 format and the price ($5-9).
  17. nerdycool

    nerdycool Well-Known Member

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    I hope they get it figured out without closing stores. There isn't one where I live, but whenever we go shopping in the closest city, we always go to B&N. There's just something about wandering around, seeing what could be found that I love. Even if I can get the books cheaper on Amazon, I usually end up buying at least one every visit.
  18. emason

    emason Well-Known Member

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    Well, they recently closed one here in NYC; I was shocked when I walked past the empty store at 21st St. and 6th Ave. That store was always busy. I think the location is now a Trader Joe's.
  19. VIETgrlTerifa

    VIETgrlTerifa Well-Known Member

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    I don't think this is as dire as it sounds (though it's not as good as it used to be). The Riggio family, I think, wants to find a way to keep the company within their control after going through an on-going lawsuit with a major shareholder, Ron Burkle. Burkle, from what I hear, wants to be able to buy more than 20% of BN shares without board approval, and the board doesn't think he should. I also heard Burkle has a reputation of killing businesses he's gotten control of, but I haven't looked into that part myself.

    I think this whole selling business is a way for Barnes and Noble to go away from public status they gained in the 90s and become private again. That's why in the article, Riggio talked about forming an investment firm to buy Barnes and Noble.

    Considering that BN is going to push a huge campaign promoting nooks by clearing out more store space to create nook boutiques, the nook isn't going anywhere.

    Reading the article in the WSJ about the decline in profit in the past three years is eye-opening, and it's no wonder why BN finally jumped on the E-book wagon and is diversifying their merchandise in their stores.
    Last edited: Aug 6, 2010
  20. Cheylana

    Cheylana Well-Known Member

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    They closed that one? I remember shopping there back in the day... crap.
  21. danceronice

    danceronice Corgi Wrangler

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    Eh....I'm not so sure. The problem is if they completely tie Nook to their store and website. Kindle's price already dropped and in most people's heads, "on-line bookseller" = "Amazon.com." People who shop on-line for books are likely to go there first, and less likely to be willing to trudge to a physical store for an e-product. Amazon's very good at being a virtual store, while if BN tries to be virtual with a physical space, they're basically trying to compete with Amazon with a much lower profit margin.
  22. VIETgrlTerifa

    VIETgrlTerifa Well-Known Member

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    Actually, many people who buy ipads and nooks like the idea of trying out the product before they commit major $$$ to it. Plus people like the idea of in-store support and in-store features. Why do you think Apple stores have popped up all around the country in places where people never had access to apple computers before? Why do you think BN is increasing their coverage to Best Buy?

    If physical stores aren't a plus, why did Amazon start selling Kindles in Targets to offset that advantage?

    Of course, since Kindle got a 2 year head-start and is a monster of a company, their product is more successful. Barnes and Noble's old marketing plan was always more of a insular one where they hardly did (if they ever) outside advertisement. It was increasing their base through their loyal customers who shop at book stores regularly. Nook is forcing BN to start outward advertising and re-think their strategies. Will it be as successful as Kindle and iPad? Probably not, but it's already a big hit and the numbers keep growing and it's proven to be lucrative for the company already.
  23. zhenya271

    zhenya271 Active Member

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    I thought this was the case, as well I prefer Borders because they send coupons all the time and you don't have to pay for a membership to get their rewards. I also prefer Seattle's Best over Starbucks.
  24. snoopy

    snoopy Team St. Petersburg

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    Borders was a buyout target last year - their stock was trading at 50 cents a share - but not sure they had any serious offers. The stock price rebouding some since then.
  25. babbyrabbit

    babbyrabbit New Member

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    I am not a Barnes Noble fan. I prefer Borders. I dont like that you have to pay to be a discount rewards member. However Borders is free and you get a great coupon each week. But I do agree if I am no in a hurry to get a book I just get it off Amazon. It is usually cheaper on adult books. Kids books however are about the same.

    And I cant stand kindle or reading in Ibooks.. So the digital will have no effect on my book buying! :)
  26. Wyliefan

    Wyliefan Well-Known Member

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    B&N used to have great coupons all the time. Not so much anymore. Usually if they offer a 40 percent one these days, it's for a specific book or books.
  27. judiz

    judiz Well-Known Member

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    I was considering buying a nook but now I'm questioning if it's a smart move given the for sale status of B&N.

    Does Kindle still charge a surcharge to download books?
  28. Aaron W

    Aaron W New Member

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    Big bookstores nearing end of their shelf life?

  29. PrincessLeppard

    PrincessLeppard Well-Known Member

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    I hope they stay. While stuff may be a bit cheaper online, I prefer to shop locally and support my local economy. I also love wandering through bookstores, and have no desire to own a Kindle or a Nook. And I'm a gadget nerd.
  30. LordCirque

    LordCirque New Member

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    I hate ebooks and digital readers. I need a book in my hand to be able to read and focus, and I'm also a techie/gadget nerd.
  31. BellaSTRARSSA!

    BellaSTRARSSA! Member

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    This is exactly what's happening. The media continue to report this wrong. Barnes & Noble is not going out of business. It's trying to go private and in order to do it, you have to put the company on the market. And Nook (all 3 of them) will remain at the forefront of their selling strategy.
  32. Aceon6

    Aceon6 Get off my lawn

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    ITA, this is about the stock, not about the stores. I hope they find a buyout solution soon as I'd hate to lose both Borders and B&N. Amazon is great, but it can't compare with the hands on wonder of wandering the store.
  33. Aaron W

    Aaron W New Member

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    Borders may seek bankruptcy protection next week

  34. Satellitegirl

    Satellitegirl New Member

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    Why are these stores not evolving to ebooks and digital stations to browse books? They need to keep transitioning to the new stuff, or they'll be left in the dust.
  35. rfisher

    rfisher Satisfied skating fan

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    Crap. Borders is the only store locally and I'd bet it's small enough to be one of the ones to be axed. :wuzrobbed
  36. nubka

    nubka Well-Known Member

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    Agree. I buy about 90% of my books from AbeBooks on line. I usually never pay over $7.00 a book (and that includes shipping!) I'm not a big fiction reader, so it's often difficult for me to find what I'm looking for at B&N. At Abe, the possibilities are almost endless... :)
  37. VIETgrlTerifa

    VIETgrlTerifa Well-Known Member

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    Barnes and Noble released their digital App like two years ago and their Nook device is keeping them afloat on top of BN.com. Borders is loosely affiliated with a few digital eReaders but they don't really have one that's theirs.

    Borders' financial trouble seems to predate the the digital boom. That is not to say that that hasn't been a major source of their woes, but ever since I started at BN five years ago, it seems that I've always been hearing about Borders filing for bankruptcy in the future.

    I think the point of these stores is that they want to welcome the new digital age but they don't want to totally get rid of all of their brick and motor stores. Not only will a lot of people be out of work but it's just a huge cultural shift if the only place you can buy physical books are at Walmarts and Targets. Local book stores might get the niche markets but they will have a hard time competing with those stores and now the internet and digital readers.
  38. dinakt

    dinakt Well-Known Member

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    I really loved the flagship Barnes and Noble on 65th and Broadway, 5 huge floors filled with books, interesting authors making guest appearances. Was shocked that it closed in early January. There used to be huge Tower Records across from it some years ago, which closed- though corporate, those two stores for me were a part of life around Lincoln Center, and their features selections reflected that. I seriously doubt whatever is done with Barnes and Noble space would be better for the area. E-readers are great, but there is great pleasure in browsing books, not knowing what you'd find, looking forward to discovery. That it might disappear makes me sad.
    dbell1 and (deleted member) like this.
  39. sk8pics

    sk8pics Well-Known Member

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    I really like the Borders near me but it is a little bit of a pain to get to. And they are almost always a little more expensive than Amazon for me. But I had a Borders gift card from Christmas that I used last night, just in case. So thanks for bumping this up, Aaron.
  40. Holley Calmes

    Holley Calmes Well-Known Member

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    Pretty soon we can just sit in our cubes and order everything on our computers and never ever have to go anywhere.

    This is sad. Kindles and Nooks are fine for whoever wants to hold a cold piece of plastic in their hands, but I do not want one. I love printing. I love color, the texture of papers, the feel of them, and beautiful dust covers. I love a stack of books on my table. I love going to a bookstore and looking at all the colors and being excited visually by the fronts of new books-how they try to entice me! Sure, you can see a teeny little cover or an ad on your computer, but it isn't the same thing. I love the other products there too, the diaries and calendars and coffee, dvds, music..... Going to a bookstore is a sensory experience that a little hand held piece of plastic just can't duplicate.

    I am not a luddite. I live on my computer and though not a technie gadget freak, I am open to most anything. But closing book stores and having nothing but a drab bit of plastic as a resource for my reading? That's like dragging me to some kind of sensory Siberia.