Borders UK enters administration

Nate the great · 11-26-2009, 07:48 AM

If you've been following publishing news this past week you'll have read the reports about Borders UK having financial difficulty. Distributors walk away, Borders website stops taking orders, Borders UK up for sale, etc. The latest report from The Bookseller blog is that Borders UK has entered administration.

Edit: It's now officially happened. London based MCR has announced that it has been appointed as administrator for Bokrders UK.

In the coming weeks at least one uninformed reporter will claim that ebooks killed off this company. That reporter is an idiot. If anything killed Borders UK (other than managerial incompetence), it was the internet, not ebooks. In the US (which has the most developed ebook market) ebooks account for about 1% of book sales. Web retailers account for about half of all book sales. Which do you really think affected a brick&mortar store more?

poshm · 11-26-2009, 08:19 AM

Very sad to hear this.

I can't imagine that our local store (Cambridge) will now remain as a bookstore being that it is right next to a WHSmith (if you can call that a bookstore) and not far from a Waterstones bookshop. Another shop I suppose which is going to remain empty for months

pthwaite · 11-26-2009, 08:23 AM

A shame, as our store is a very good and well supported shop. I hope it is able to continue as a bookstore.

Patricia · 11-26-2009, 09:35 AM

I'm sorry to hear this. The Cardiff branch of Borders is rather close to a Waterstone's. So I don't suppose that it will survive, which is a great pity.

Katti's Cat · 11-26-2009, 09:41 AM

Oh no - a bookstore closing. I must check if they have anything to do with Borders here in Oz.

Why they are closing? Who knows these days - the financial market is so intertwined and conveluted I doubt anyone could work it out.

But usually these days it's that they borrowed more money then they could repay. Just like people who own 10 credit cards and are surprised they have to pay the debt back.

But regardless - always a shame to see a bookstore go.

Just checked : Borders Australia is a subsidiary of A&R Whitcoulls Group Holdings PTY Ltd so hopefully safe

Mike L · 11-26-2009, 09:45 AM

I don't know about other parts of the country, but here in Edinburgh the Borders was doomed from the start by its lousy location: in an edge-of-town shopping centre that's particular difficult to reach from most of the city. It had no chance of prospering in that locale.

You'd think an experienced retailer like Borders would know better.

RCR · 11-26-2009, 03:50 PM

Quote:

Originally Posted by Katti's Cat

.............

Just checked : Borders Australia is a subsidiary of A&R Whitcoulls Group Holdings PTY Ltd so hopefully safe

I remember the old Whitcombe and Tombs bookstores from my New Zealand childhood. And A&R is Angus and Robertson (?). Is the world going to be taken over by one huge blob like book-business entity absorbing all other bookstores? Arghh!

The Melbourne Central Borders always seems to have plenty of traffic, though that may not translate into profits. I do find it unpleasant to visit though, with its bland, populist collection, and poorly maintained shelves.

michaelmiller · 11-26-2009, 04:25 PM

I always found Borders store layout a lot better than Waterstones, but their prices a lot more expensive than both Waterstones and WH Smith. I would browse Borders noting all the new books then buy them elsewhere at a better price.

fugazied · 11-26-2009, 04:30 PM

Ebooks wouldn't have killed them, but competition from online sellers wouldn't have helped (and the supermarkets selling best sellers at super low prices). Also let's face it - people read less because their heads are stuck in their phone, facebook or in front of a computer game or TV.

I don't mind if journalists write innacurate reports on the closure suggesting ebooks played a role - more publicity for ebooks and more incorrect info suggesting ebooks are taking over the world!

charlieperry · 11-26-2009, 05:36 PM

Personally I think it's great that the highstreet bookshops are getting hammered. I detest consumerism and most book buying is just consumerism as far as I'm concerned. Owning books is nothing. Reading them is everything.

Would love to see a resurgence in libraries.

frossie · 11-26-2009, 05:39 PM

Borders UK (no longer connected to Borders USA - they were spun off a couple of years ago) almost certainly did not fail because of e-books. I am sure Amazon.co.uk had a lot to do with it, but also there was the particular "mega-store" model they inherited from their US origins. Retail space is vastly more expensive in the UK than in the US, especially in prime locations, so I am guessing there was pressure on their margins from the start.

Now Borders USA is a different story - I think their e-book strategy is crazy and I wouldn't be surprised if that is not a factor in their eventual demise.

Blue Calx · 11-26-2009, 06:05 PM

I agree with Mike L on this one. Here in Leicester, the branch of Borders is at an out of town shopping centre that is difficult to reach without a car.

The book stock is superb there, and they have quite a few books that are not available in either of the city's two branches of Waterstones, but I have been there maybe four times in ten year of living here.

Shame really, but agree with the OP -this is not the fault of e-books...

Katti's Cat · 11-26-2009, 08:35 PM

Quote:

Originally Posted by charlieperry

Personally I think it's great that the highstreet bookshops are getting hammered. I detest consumerism and most book buying is just consumerism as far as I'm concerned. Owning books is nothing. Reading them is everything.

Would love to see a resurgence in libraries.

I go to (or used to before eReader) to the library every week. But it annoyed the crap out of me that I had to wait up to 9 months for a new book (waiting lists so long) just because someone in their wisdom decided to buy only a small number of copies.

Here in Brisbane they have also introduced 'Fast Read' which means I can get a new book for 7 days only, extension not possible.

Our library catalogue is sluggish, the employees hardly informed. What happened to the good old times where a librarian knew the readers, was good at recommending books and always up for a chat about books?

DawnFalcon · 11-26-2009, 10:35 PM

Quote:

Originally Posted by frossie

Borders UK (no longer connected to Borders USA - they were spun off a couple of years ago)

Borders US had a 16% stake. They'll have taken a loss on this, but not a massive one by any means.

Blue Calx - I lived in Leicester for three years and was not even aware it had a Borders until you posted about it!

charlieperry · 11-27-2009, 01:07 AM

Quote:

Originally Posted by Katti's Cat

Here in Brisbane they have also introduced 'Fast Read' which means I can get a new book for 7 days only, extension not possible.

That's a really good idea. They don't have that at my local library as far as I know.

Quote:

Originally Posted by Katti's Cat

Our library catalogue is sluggish, the employees hardly informed. What happened to the good old times where a librarian knew the readers, was good at recommending books and always up for a chat about books?

Libraries can be hit and miss but all the local libraries I've ever used in Sydney have been great. They've always managed to provide me with plenty of varied and interesting reading material.

As for catalogues being sluggish I'm very happy to read books which are 10 or 20 years old. In fact I prefer it. You always run the risk when reading a brand new highly recommended book that it's just a fad. I always wait a few years for the dust to settle before reading any highly praised work.

11-26-2009, 07:48 AM	#1
Nate the great Sir Penguin of Edinburgh Posts: 12,375 Karma: 23555235 Join Date: Apr 2007 Location: DC Metro area Device: Shake a stick plus 1	Borders UK enters administration If you've been following publishing news this past week you'll have read the reports about Borders UK having financial difficulty. Distributors walk away, Borders website stops taking orders, Borders UK up for sale, etc. The latest report from The Bookseller blog is that Borders UK has entered administration. Edit: It's now officially happened. London based MCR has announced that it has been appointed as administrator for Bokrders UK. In the coming weeks at least one uninformed reporter will claim that ebooks killed off this company. That reporter is an idiot. If anything killed Borders UK (other than managerial incompetence), it was the internet, not ebooks. In the US (which has the most developed ebook market) ebooks account for about 1% of book sales. Web retailers account for about half of all book sales. Which do you really think affected a brick&mortar store more? Last edited by Nate the great; 11-26-2009 at 02:32 PM.

11-26-2009, 09:41 AM	#5
Katti's Cat Wizard Posts: 2,259 Karma: 175640 Join Date: Nov 2009 Location: Brisbane Australia Device: Sony PRS-600	Oh no - a bookstore closing. I must check if they have anything to do with Borders here in Oz. Why they are closing? Who knows these days - the financial market is so intertwined and conveluted I doubt anyone could work it out. But usually these days it's that they borrowed more money then they could repay. Just like people who own 10 credit cards and are surprised they have to pay the debt back. But regardless - always a shame to see a bookstore go. Just checked : Borders Australia is a subsidiary of A&R Whitcoulls Group Holdings PTY Ltd so hopefully safe Last edited by Katti's Cat; 11-26-2009 at 09:45 AM. Reason: additional info

11-26-2009, 05:36 PM	#10
charlieperry Connoisseur Posts: 89 Karma: 174 Join Date: Jan 2008 Location: Sydney Device: Sony PRS 505	Libraries Personally I think it's great that the highstreet bookshops are getting hammered. I detest consumerism and most book buying is just consumerism as far as I'm concerned. Owning books is nothing. Reading them is everything. Would love to see a resurgence in libraries.

11-26-2009, 05:39 PM	#11
frossie Geek Herder Posts: 31 Karma: 70 Join Date: Oct 2009 Location: Hilo, HI Device: nook	definitely not e-books Borders UK (no longer connected to Borders USA - they were spun off a couple of years ago) almost certainly did not fail because of e-books. I am sure Amazon.co.uk had a lot to do with it, but also there was the particular "mega-store" model they inherited from their US origins. Retail space is vastly more expensive in the UK than in the US, especially in prime locations, so I am guessing there was pressure on their margins from the start. Now Borders USA is a different story - I think their e-book strategy is crazy and I wouldn't be surprised if that is not a factor in their eventual demise.

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11-26-2009, 08:19 AM	#2
poshm Fanatic Posts: 581 Karma: 1003580 Join Date: Oct 2009 Location: Cambs, UK Device: PocketBook 360, Sony Reader Touch, Ipod touch & Kindle 2	Very sad to hear this. I can't imagine that our local store (Cambridge) will now remain as a bookstore being that it is right next to a WHSmith (if you can call that a bookstore) and not far from a Waterstones bookshop. Another shop I suppose which is going to remain empty for months

11-26-2009, 08:23 AM	#3
pthwaite Fanatic Posts: 597 Karma: 430 Join Date: Aug 2008 Location: Ellesmere Port, UK Device: DR1000S Sony PRS505 iPad iPhone	A shame, as our store is a very good and well supported shop. I hope it is able to continue as a bookstore.

11-26-2009, 09:35 AM	#4
Patricia Reader Posts: 11,504 Karma: 8720163 Join Date: May 2007 Location: South Wales, UK Device: Sony PRS-500, PRS-505, Asus EEEpc 4G	I'm sorry to hear this. The Cardiff branch of Borders is rather close to a Waterstone's. So I don't suppose that it will survive, which is a great pity.

11-26-2009, 09:45 AM	#6
Mike L Wizard Posts: 1,479 Karma: 3846231 Join Date: Apr 2009 Location: Edinburgh, Scotland Device: Kindle 3, Samsung Galaxy	I don't know about other parts of the country, but here in Edinburgh the Borders was doomed from the start by its lousy location: in an edge-of-town shopping centre that's particular difficult to reach from most of the city. It had no chance of prospering in that locale. You'd think an experienced retailer like Borders would know better.

11-26-2009, 04:25 PM	#8
michaelmiller Junior Member Posts: 4 Karma: 10 Join Date: Jan 2009 Device: Sony reader 505, 600, BeBook	I always found Borders store layout a lot better than Waterstones, but their prices a lot more expensive than both Waterstones and WH Smith. I would browse Borders noting all the new books then buy them elsewhere at a better price.

11-26-2009, 04:30 PM	#9
fugazied Wizard Posts: 1,305 Karma: 1958 Join Date: Jan 2009 Device: iPod Touch	Ebooks wouldn't have killed them, but competition from online sellers wouldn't have helped (and the supermarkets selling best sellers at super low prices). Also let's face it - people read less because their heads are stuck in their phone, facebook or in front of a computer game or TV. I don't mind if journalists write innacurate reports on the closure suggesting ebooks played a role - more publicity for ebooks and more incorrect info suggesting ebooks are taking over the world!

11-26-2009, 06:05 PM	#12
Blue Calx Junior Member Posts: 7 Karma: 10 Join Date: Nov 2009 Location: Leicester, UK Device: Sony PRS-600	I agree with Mike L on this one. Here in Leicester, the branch of Borders is at an out of town shopping centre that is difficult to reach without a car. The book stock is superb there, and they have quite a few books that are not available in either of the city's two branches of Waterstones, but I have been there maybe four times in ten year of living here. Shame really, but agree with the OP -this is not the fault of e-books...

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