Bankruptcy: Amazon competitor Borders

The US bookseller Borders shut the doors – more than 10,000 employees lose their jobs.

T he collapse of the second largest US bookstore chain Borders costs expected 10,700 people the job. After searching for a saving buyer failed, the sale of the remaining 399 stores could start as soon on Friday until the end of September to Borders then be nothing left. A bankruptcy judge must approve the plan but still.

“After all the pages have strained so this development saddens us,” said CEO Mike Edwards late Monday at the company headquarters in Ann Arbor (Michigan). Until recently, the company, which had slid in February in the bankruptcy, had negotiated with a potential buyer – ultimately unsuccessful. Now specialized companies to undertake the organization and make everything of value to money to pay creditors.

Closures not helped

Borders had already closed down hundreds of stores, which thousands of people had driven into unemployment. But the austerity program and an emergency loan did not bring the hoped-for recovery in the end. Sales of Borders was shrunk considerably and the chain had been in the red.

Borders suffers that customers save since the economic crisis of books or prefer to buy by mail order from Amazon. Also, the in the US far advanced triumph of electronic books makes Borders to create. The readers go now at prices below $ 100 over the counter, which works out at 70 euros. Even Apple’s successful iPad tablet computer is used by many people to read books.

Even Barnes & Noble in need

The largest US bookstore chain Barnes & Noble also weakens and examined as a precaution for a buyer. Meanwhile there is also an offer. A bust of Barnes & Noble would have more drastic consequences: The company includes 700 regular stores plus more than 600 so-called college bookstores that are aimed at students. (Dpa)