The move will put more than 11,000 out of work, 10,700 store employees and approximately 400 at their Ann Arbor, Michigan, headquarters.
The rise in e-reader sales, which Borders was a late adapter, coupled with rising competition from online retailers such as Amazon, are directly responsible for the slide in sales at the retailer. It's a sad day when the nation's second largest bookstore goes out of business. A very sad day.
1 comments:
F and I were just at our local Borders a couple of days ago. When I buy books, I tend to buy them online. (I am HUGE about getting books from the library, lest you think I am illiterate.) I don't like to pay full retail for a new book. Can't stand it, so when we buy at Borders or B&N, it is from the discount stacks.
I've also noticed that used book stores are going out of business right and left, which is a true pity. I can hang out in a used book store all day long. And I have no interest at all in e-readers.
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