Borders Announces Liquidation

At 4:10PM, Borders announced that it plans to liquidate it's remaining 399 stores effective immediately.  Stores will start final liquidation sales as early as this Friday.

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.

Umm, Bitter?

This sign was seen on the doors of a Borders bookstore in Chicago, Illinois, over the weekend.  As many of you know, they are currently in the process of closing 200 stores, or approximately 30% of their locations, nationwide.  This is, in part, due to the fact that they are no longer able to compete with online giants such as Amazon.com, or even BN.com (Barnes & Noble).

For the record, Amazon technically does have restrooms.  I pee while on Amazon.com all the time, and I don't get the disapproving looks from others like I get from the customers at Borders.