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Old 05-05-2020, 11:10 AM   #19
fjtorres
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Quote:
Originally Posted by DuckieTigger View Post
Yes, that is why the current crisis is only making matters worse. Unless a miracle happens soon, chapter 11 might be off the table altogether and B&N needs to consider a chapter 7. Except that would equal closing shop.
Chapter 11 = Chapter 7 when big publishers are involved.

That's what killed Borders. They had buyers willing to pick up most of the chain (the profitable stores, anyway) but only with staff and stock included. The BPHs insisted on full price upfront for stock. With no agreement possible, the judge mandated liquidation.

Publishers expected B&N to inherit the bulk of the customers since 75% of Borders sites were within a mile of B&N stores. However it was Amazon that made out like bandits, inheriting the vast majority of Borders' market share. Apparently, most of the folks that shopped at Border did it because they wanted nothing to do with B&N.

Things might be different now in that there is no heir to the b&m crown but the publishers are in big trouble of their own.

Relying on the kindness of strangers isn't a good strategy in the publishing world.
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