Borders Group Inc.’s creditors rejected today a sale of the bookseller to a private equity firm, paving the way for a possible liquidation of the chain.
Ann Arbor-based Borders received a bankruptcy judge’s approval to start an auction for its assets and to liquidate if no higher bids are received.
The Wall Street Journal sure does sound fatalistic about it, saying the chain “looks to be headed to the scrap heap,” and concluding, “Folks, get the obits ready. It may soon be lights out for Borders.”
“Fatalistic?” Jesus, they’re auctioning off the assets. It doesn’t get much more dead than that.
As a previous employee of Borders, and as a room mate of a current employee, all I can say is: it’s been dragged out long enough. I think everyone is ready for the big bang, regardless of how morbid that bang may be.
That’ll learn them for making Glenn Beck book pyramids.
So… where am I supposed to go to get a book? The two closest bookstores an hour’s drive on either side of me are both Borders. Past that, there’s a B&N 62 miles away and another 126 miles away.
If I were to only be able to buy books online I probably would never buy books again. A lot of what I buy are impulse books.
@4: Get an eBook reader and impulse-buy away.