Patt Morrison for July 19, 2011

Borders books officially reaches the borderline, liquidates business, closes stores

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Justin Sullivan/Getty Images

Remnants of a sign remain on the exterior of a closed Borders Bookstore.

Remember the day when the big-red-and-white Borders bookstore popped up on a commercial business corner near you? They had their avid book-loving followers and their loyal independent-bookstore-going boycotters. But a bookstore with music, movies, and a built-in coffee shop was a new concept—Borders has something for everyone. Now, the monster store demonized for crushing independent bookstores has now been crushed itself. By 2000, the rise of online book sellers like Amazon.com and discount retailers like WalMart and Target had caused a dramatic reduction in people visiting Borders. In addition to forces beyond its control, Borders may have accelerated its own demise by moving too slowly into the digital age, with a clunky website to purchase books from and without its own kindle (Amazon) or Nook (Barnes & Noble) equivalent until recently. This week Borders announced the liquidation of its business and the closure of all of its remaining stores. Ironically it’s the small, independent bookstores that might ultimately prevail in this fight. While internet book sales helped to vanquish Borders, your local bookstore will live to fight another day.

Guest:

Albert Greco, a book publishing expert and professor of marketing at Fordham’s University’s Graduate School of Business Administration


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