Yesterday, the bookstore chain Borders filed for bankruptcy, after months of signs. The company is over a billion dollars in debt, and plans to close about one-third of its stores. As a giant in the bookselling industry crumbles, a lot of people are left asking whether physical bookstores will go the way of the record store.
Borders has been facing financial trouble for a while now, but has also been slow to adapt to the new world order of online books. Unlike some its competitors, it didn't even breach the online market until 2008, and still has nothing to compete with the Kindle or the Nook.
To add allure to its remaining stores, Borders is considering adding wine bars to some locations. Which makes sense — if there's anything to pull people away from the allure of a gray-screened reader, it's booze.
Comments ( 5 )
Wine bars in bookstores? O great. Reading While Intoxicated, here we come.
Marvelous. Now I will get red wine stains in books instead of coffee and cookie crumbs.
Meanwhile, when did selling ereaders from three different vendors, including Sony, count as "nothing to compete with the Kindle or the Nook"? It took me all of three seconds to find that information.
GeeBee - Nook is Barnes & Nobles' product. When I buy a book on my Nook, Barnes and Nobles earns money for that book sale, which helps them deal with declining sales in actual bookstores. When Borders sells an e-reader made by Sony, they make money, sure, but only from customers in their actual stores -- they receive none of the book sale revenue.
That took me about a minute.
And while I'm bitching about the declining standard of "journalism" at Hooksexup, the very first word of this article is "Today", when in fact it should read "Yesterday".
Mmm.....what's next Barnes & Noble offering blow-jobs with the purchase of your books?
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