Twitter News: Borders Files for Bankruptcy

 

Image from Publisher's Weekly

Last week, Borders filed for Chapter 11 Bankruptcy. It had been a long time coming, but at least they avoided a Chapter 7, which would mean they basically would have been liquidated. About 200 stores of the 600 Borders stores will be closed. I imagine the bankruptcy of Borders worries many publishers. Borders and Barnes & Noble are still major outlets and one of the main channels publishers use to turn a book into a bestseller. Now that Borders is bankrupt, I think digital will become an even more important outlet. Funny thing is, at the end of last year Barnes & Noble was in a lot of trouble, and Borders was considering acquiring Barnes & Noble. To see an enlarged map of all the Borders stores in the U.S. that will be shutting down, click on the image above.

For more information on how Borders’ bankruptcy affects publishers, read Borders Bankruptcy to Ripple Through Industry

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