Quote:
Originally Posted by elcreative
Actually it tells you an awful lot... retailers do NOT pay up front for their stock unless they are unable to establish a credit account... booksellers get their stock long before paying for it (standard T&C usually give from 30 days up to 90 or even more for larger bookseller) so the fact that a bankrupt bookseller didn't pay its bills had a serious effect on publishers... a large chain can be carrying several hundred thousand pounds (dollars, yen euros whatever) of unpaid for stock at any one time with several major publishers... oh yes, I've worked in the retail book trade at various levels from design and publishing to managing outlets so I do know what I'm talking about... and I agree with the person you sniped, if you think someone's wrong then do the damned research yourself, why should someone else do it for you...  |
I have no idea what terms Borders were given before the change to cash. I think most booksellers are on net 90 or longer rather than net 30. Borders had millions owed to the major publishers at the time they were switched to cash terms.
Greg Weeks