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Thread started 09/19/11 6:37am

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Going, Going, Gone: Borders Assets Auctioned

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Sep 20, 2011

Hilco Steambank, the company that’s handling the liquidation of Borders assets, announced that it has completed the auction of Borders’ intangible assets for a total of $15,775,000.
Hilco Steambank, the company that’s handling the liquidation of Borders assets, announced that it has completed the auction of Borders’ intangible assets for a total of $15,775,000.
The sales must still be approved by the bankruptcy court, which will review the sales on Tuesday, Sep 20. Ten bidders participated, with over 50 rounds of bidding before the winners emerged. Bidders included booksellers, publishers, and Internet-only retailers. Barnes & Noble acquired Borders’ URLs, brands, Website, and customer lists, according to Publishers Weekly.
Barnes & Noble acquired Borders’ URLs, brands, Website, and customer lists, according to Publishers Weekly.

Separately, Books-a-Million acquired 14 of Borders’ store locations.


[Edited 9/19/11 8:46am]

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Reply #1 posted 09/19/11 6:42am

Graycap23

Another one bites the dust.

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Reply #2 posted 09/19/11 8:39am

kimrachell

sad i worked at borders years ago and loved it! neutral

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Reply #3 posted 09/19/11 2:12pm

PurpleJedi

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I really enjoyed Borders, and will miss them.

nod

Barnes & Nobles isn't as "browser friendly"...but I suppose that might have been part of the problem, eh?

By St. Boogar and all the saints at the backside door of Purgatory!
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Reply #4 posted 09/19/11 2:32pm

eugny1

I worked for Borders for 14 years, and was laid off during the first wave of closures this past spring.

During that time, I met many lovely, talented, creative, bright people, all often working under the same roof at one time.

I realize now that that's what I miss most about the place: literate, intelligent, funny co-workers.

I took it for granted.

Trolling for other retail manager jobs since then, I see what type of employees a book store brought in versus other retail establishments. The comparisons aren't pretty.

I'm officially no longer looking for work in retail.

In terms of what happened to the company, it was very sad to watch as over the last decade each CEO brought in was more clueless and hapless than the last, installing worthless metrics that GM's were under constant pressure to meet, although there is only one worth a goddamn- same store sales vs. last year. Everything else is worthless bullshit, and gradually all of the fun was sucked out of coming to work, and everyone always felt the pressure to live up to this or that bullshit number, or else.

Surely, there is a very special place in Hell reserved for the monumental fuckhole that was and is Ron Marshall, an imbecile of epic proportions who was sold to the employees as a "turnaround specialist", a double over with laughter notion if there ever was one.

It was left to his successor - a much nobler man to be sure- to preside over the death rites of a once great company.

[Edited 9/19/11 14:32pm]

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Reply #5 posted 09/19/11 4:42pm

funkyslsistah

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Goodbye Borders! sad I went there a few times since the liquidation sale began. The last time was about two weeks ago. Since then, I wanted to go one more time, but didn't make it. I might drive-by later today for a final glimpse. That was my pitstop before going to Trader Joe's or inside Stonestown Mall. Ugh going there will never be the same. sigh

"Funkyslsistah… you ain't funky at all, you just a little ol' prude"!
"It's just my imagination, once again running away with me."
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Reply #6 posted 09/19/11 4:51pm

NDRU

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Borders and B&N killed a lot of small bookstores, I wonder if we will see them make any kind of a comeback

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Reply #7 posted 09/19/11 4:58pm

kimrachell

NDRU said:

Borders and B&N killed a lot of small bookstores, I wonder if we will see them make any kind of a comeback

i think the small book stores are making a comeback, there are new ones in my area that are nice, and seem to make a lot of business.smile

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Reply #8 posted 09/19/11 6:18pm

728huey

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kimrachell said:

NDRU said:

Borders and B&N killed a lot of small bookstores, I wonder if we will see them make any kind of a comeback

i think the small book stores are making a comeback, there are new ones in my area that are nice, and seem to make a lot of business.smile

I know this is the era of the Kindle and Nook, but one of the more novel and awesome things that my hometown has done had to do with a Barnes and Noble store which left its location and moved to a mall location about a mile away. The city took over the vacant B&N property and put a public library branch in its place. They even leased out the coffeehouse space to a local shop.

biggrin reading typing

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Reply #9 posted 09/19/11 10:25pm

kewlschool

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Barnes and nobles will be next (It may be ten years out). Music brick stores aren't needed anymore-the same goes for book stores. Sure there will be some book stores primarily with used books mixed with new. But the digital age has changed the landscape. Libraries eventually will be transformed into community centers with computers, nooks or kindles that they lend out.

99.9% of everything I say is strictly for my own entertainment
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Reply #10 posted 09/20/11 3:47am

JerseyKRS

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The only thing I am sad for are the loss of jobs for more people. As for the company itself, meh. shrug

I kind of subscribe to the belief that corporations have basically killed free enterprise and made the country WORSE in the big picture, so fuck 'em.

How many privately owned small businesses (bookstores mostly) were forced to close as big corp Borders and their big money moved in and made it impossible to compete? I'm betting many.



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Reply #11 posted 09/20/11 10:23am

NDRU

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728huey said:

kimrachell said:

i think the small book stores are making a comeback, there are new ones in my area that are nice, and seem to make a lot of business.smile

I know this is the era of the Kindle and Nook, but one of the more novel and awesome things that my hometown has done had to do with a Barnes and Noble store which left its location and moved to a mall location about a mile away. The city took over the vacant B&N property and put a public library branch in its place. They even leased out the coffeehouse space to a local shop.

biggrin reading typing

That is interesting. Infact I wondered how B&N and Borders stayed in business. They are enormous places, and a lot of people treat them like libraries in that they grab a book and sit down for an hour or two, then leave without buying anything.

So that's a good idea, except that libraries keep losing funding too and having their hours cut.

Maybe a coffee shop that supports the library could help

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