Friday, February 4, 2011
Borders bookstore chain may file for bankruptcy next week.
An article on the Bloomberg website states that Borders--which has posted $US 800 million in losses in the last 5 years--will likely file for bankruptcy next week. It has 650 stores in the US.
This probably won't affect the Borders stores in NZ which are owned by the Australian [In the] REDgroup under a franchise arrangement, although before the year is out they may be among the last in the world.
Meanwhile the competitor Barnes and Noble chain is improving, indicating that the Borders business model is the problem, see earlier posts about that.