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Borders Books begins going-out-of-business sales

by KING 5 News and Associated Press

KING5.com

Posted on July 22, 2011 at 7:06 AM

Updated Friday, Jul 22 at 12:28 PM

Some going-out-of business sales are to start today for Borders bookstores.

A judge on Thursday approved the 40-year-old booksellers' plan to appoint liquidators led by Hilco Merchant Resources and Gordon Brothers Group to sell off its assets.

About 30 to 35 of the stores could be sold to rival chain Books-a-Million Inc. but the two companies are still in talks.

Books-A-Million, based in Birmingham, Ala., will become the second largest U.S. bookseller after Borders liquidates. It operates more than 200 stores in 23 states and the District of Columbia.

Borders, in Ann Arbor, Mich., filed for bankruptcy protection in February. It said earlier this week it planned to liquidate after a potential private-equity bid fell through.

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Comments: Displaying 1 - 8 of 8

priv62 said on July 22, 2011 at 9:11 PM

I might be old-fashioned, but I vastly prefer the experience of holding a real book in my hands as I read a novel or a textbook. I do NOT like the idea of depending on electricity to power my electronic reader, even though I still need it to read a book in the evenings.

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kak55 said on July 22, 2011 at 7:15 PM

We went to a going out of business event at a local Borders and I was surprised at how expensive everything was. I thought we could score on a program to learn a new language and those weren't even marked down. However, the line to purchase was ridiculously wrong so others obviously did not pay much attention to the prices. I'm simply not that gullible!

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lj1988 said on July 22, 2011 at 9:53 AM

@lc501 Going out of business sales aren't what they used to be. Now that there are outlet stores, no one really marks anything down. It's all a scam.

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lj1988 said on July 22, 2011 at 9:52 AM

@underserf I love my hard copies of books but it's also easier to carry around an ereader or my laptop for when I'm going to be away from home for long periods of time. Since I read about 350 pages a day, attempting to pack 10 or more books for a trip simply isn't feasible. Not only that, ereaders are easier on the environment as they don't require paper so it goes a little farther towards keeping our forests in place. Borders is going out of business because they made a series of bad decisions that led them to this point not because consumers won't read actual "books." Amazon is doing quite well and they happen to still be selling, well, books of all things. They also managed to put out an ereader that made it incredibly easy to buy and rent ebooks from pretty much anywhere making it easier NOT harder to embrace reading. So, while you think your comment makes you sound intellectual? It actually makes you sound like you're stuck in the dark ages.

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lc501 said on July 22, 2011 at 9:18 AM

I just compared some books I want with Amazon's prices and Amazon was at least 25% cheaper than anything on borders website. Nice try, maybe this is why you are going out of business.

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eightwrong said on July 22, 2011 at 8:40 AM

@underserf, congratulations on your 15, 000 print books and children who can read. Social media and digital words are "still" words. Print still exists, although in a different format. My kids don't read print books, but because of ipads, kindles, and Project Gutenberg (digitalizing literature for the world) they read more. Borders is failing because it didn't keep up with the societal shift. Barnes and Noble did with their Nook and new e platform. You might want to think about that as you type on your keyboard on a news website. Did you forget your newspaper today?

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seattlelovemongr said on July 22, 2011 at 7:28 AM

Beware!!!!...Don't be fooled......books and other stuff liquidated @ 40% off are items that were previously on sale, but marked back up to sell.(ie) music CD before liquidation $10.95 with 25% off....after.. marked up to $19.95 with 40% off....remember Circut City??.....they did that very thing....remember they are trying to make as much money before selling at 80% to get rid of inventory.....their mark downs are always marked up to maximum MSRP..before giving % off.....so you are really not saving all that much.....compare the item to what you would get at B&N's or Amazon before your impulse buy.....they don't care about your savings...they care about their bottom line....

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underserf said on July 22, 2011 at 7:14 AM

100 mlllion bucks for a "social media" website but Borders goes begging... Just reflects the average Americans malliteracy as well as the inability to care about anything not fed to them by the 'Net. Oh well, I have my 15,000 books., all my children read @ 5 or younger and if the future is naught but an intelligent minority that can still read the printed page, and Republicants - at least it will be interesting...

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