Borders closing down?

[Jman888]

How long do you think it can sustain in singapore if the huge chain is not working in the US ? Times is not doing that well, MPH closes many of its outlets, Kino is niche, more people are buying from Amazon or reading ebook on their tablet.

 

Business as usual for Borders here

my paper

Wed, Jul 20, 2011

By David Lim

 

On Monday, Borders Group, the second-largest bookstore chain in the United States after Barnes & Nobles, announced that it will sell itself to a group of liquidators led by Hilco Merchant Resources and Gordon Brothers Group.

 

It will close its 399 stores and lay off 10,700 staff in the US as early as Friday.

 

However, this does not affect the two Singapore stores as they are owned by Australian firm REDgroup Retail, which bought them from Borders Group in 2008.

 

The latter had brought the brand here in November 1997 when it opened its first overseas store at Wheelock Place.

 

The 30,000 sq ft outlet trailblazed the concept of a lifestyle bookstore with its wide variety of music, in-house cafe and late operating hours on weekends.

 

It opened its second outlet at Parkway Parade, occupying 17,000 sq ft, in November 2007.

 

As recent as October 2009, my paper reported that the Wheelock Place store was the world's most profitable Borders outlet based on sales per sq ft.

 

Yesterday, Borders Singapore's executive manager, Ms Inge Wilhelm, said via e-mail: "Borders Singapore has no affiliation with Borders USA.

 

"Naturally, as fellow book retailers, any further store closures in the US is met with sadness on our part."

 

"Nothing, however, has changed here in Singapore, (and) we continue to conduct business as usual."

 

In a statement on Monday, Borders Group president Mike Edwards said: "We're saddened by this development.

 

"We were all working hard towards a different outcome, but the headwinds we have been facing for quite some time...have brought us to where we are now."

 

The firm could not compete with Barnes & Nobles and the e-retailer, Amazon.com, when the book-retail industry shifted online. Borders Group, which is based in Ann Arbor, Michigan, declared bankruptcy in February after dragging payments to landlords and publishers.

 

In the same month, REDgroup entered voluntary administration after it had amassed debts.

 

Control of its assets was passed to recovery firm Ferrier Hodgson to help it find a way to pay its creditors. At that time, REDgroup owned about 260 bookshops in Australia and New Zealand under the brands Borders, Angus & Robertson, and Whitcoulls, which accounted for nearly 3,500 staff.

 

On July 5, Ferrier Hodgson said that 140 stores were closed and 2,064 people lost their jobs.

 

Yesterday, Mr Michael Cave, director of corporate communications at Ferrier Hodgson, told my paper via e-mail: "Singapore Borders will remain unaffected for the time being."

 

The news was greeted with relief by housewife Carol Pang, 39, whose favourite picks are children's fiction and self-improvement books.

 

She said: "It's a pity if they closed down, because we would have one less place to get access to good books."

 

Nanyang Technological University student Tan Jia Yi, 21, concurred. She said: "I remember finding the craziest children's books there. That adrenaline rush of discovering a great book is unforgettable."

[Acieed]

e-book is the way to go, just as mp3 is for CDs. The wave has only just reached SG, more to come.

 

I was glad I travelled with more than 30 books on my e-ink reader, but not exceeding 40 kilos for the flight. When color e-ink is commercialized, it will revolutionize reading for children, and magazines.

 

Having said that, I still rather my kids read conventional books than electronic ones, just for the feel of flipping pages, teach them the need to care for books, and creative things you can do with different shapes and sizes.

 

 

Edited July 20, 2011 by Acieed

[Mockngbrd]

i still prefer my books/magazines in print.

 

Borders not as nice as it used to be, the variety of magazines also dwindling compared with Kino

[Ender]

when most people use it as a library, how to survive?

[Jman888]

e-book is the way to go, just as mp3 is for CDs. The wave has only just reached SG, more to come.

 

I was glad I travelled with more than 30 books on my e-ink reader, but not exceeding 40 kilos for the flight. When color e-ink is commercialized, it will revolutionize reading for children, and magazines.

 

Having said that, I still rather my kids read conventional books than electronic ones, just for the feel of flipping pages, teach them the need to care for books, and creative things you can do with different shapes and sizes.

 

 

i am still contemplating of getting a kindle for the kids though they prefer to read a normal book.

 

my wife and i read more chinese book which kindle do not have (prefer the e-ink version).

[Jman888]

when most people use it as a library, how to survive?

 

 

plus sitting on one of the most expensive landmark on orchard road :wacko:

[Mockngbrd]

when most people use it as a library, how to survive?

sad but true... too bad for those who actually BUY stuff

[Acieed]

Kids need to be stimulated with colourful cover and pictures.

 

There are known hacks for the Kindle to install Chinese fonts, but not as versatile as Sony readers. No prize for guessing why I got a Sony. English, Traditional, Simplified Chinese and Japanese fonts.

 

i am still contemplating of getting a kindle for the kids though they prefer to read a normal book.

 

my wife and i read more chinese book which kindle do not have (prefer the e-ink version).

 

[Mockngbrd]

Border sometime got charbor squat down look at magazine can see their asscrack

[Jman888]

Border sometime got charbor squat down look at magazine can see their asscrack

 

 

it is a venue that SDU outsource to [laugh]

[Jman888]

Kids need to be stimulated with colourful cover and pictures.

 

There are known hacks for the Kindle to install Chinese fonts, but not as versatile as Sony readers. No prize for guessing why I got a Sony. English, Traditional, Simplified Chinese and Japanese fonts.

 

 

How about those made in chinese version, Sony screen is kind of small.

[Pltang]

with iPad, u can download kindle, kobo and borrow books from library. works on iphone, andriod and blackberry... but the kindle, kobo readers are light and handy, compare to the physical books...

 

i prefer enjoy buying books though but singapore doesnt have many major bookstores that sells chinese books, i have to order online...

[Acieed]

iPad is LCD with 120hz light flashing in front of your eyes. It gets tiring when you read for 8-10 hours such as on a long haul flight. Also, the battery power won't last as long as an e-book reader.

 

e-ink is like ink. There's no light shining into your eyes, and there is no refresh rate. I can read 8 hours straight on transatlantic flight, not feeling strain on my eyes like a LCD would, and never needed to charge the battery on a 1-week business trip.

 

One shortcoming with e-book is the lack of legitimate content for Asian books. English books, you can almost be sure to find them on sale about the same time as the paperback.

 

with iPad, u can download kindle, kobo and borrow books from library. works on iphone, andriod and blackberry... but the kindle, kobo readers are light and handy, compare to the physical books...

 

i prefer enjoy buying books though but singapore doesnt have many major bookstores that sells chinese books, i have to order online...

Edited July 20, 2011 by Acieed

[Acieed]

Haven't got my hands on a Chinese reader, but I've found mix of both positive and negative reviews on Taiwanese and mainland blogs. But one important factor is most U.S. readers are much cheaper in the U.S. because they generally don't make money from the device, but from selling content.

 

How about those made in chinese version, Sony screen is kind of small.

 

[SimonTan]

Damm..there goes my free library....when I go to read up on the automobile magazines at least once a month!

 

 

[Jman888]

Final curtain down

 

Borders to vacate Wheelock Place by Aug 23

 

In a surprising turn of events, Borders has announced that its Wheelock Place's outlet will be closing soon.

 

It has until Aug 23 to remove its stock from the premises and vacate it. However, its Parkway branch will remain open.

 

The closure comes after an administrative discrepancy in the cheque issued to Wheelock Properties, Border's landlord, led the latter to take over the premises.

 

"Although a cashier's order was then subsequently drawn, the Landlord, having reentered

the premises, was unwilling to reverse the actions it had already taken.

 

"The Company is therefore unable to reopen its store in Wheelock Place which it has

occupied for the last 13 years," Borders said in a statement.

 

The company also denied that it had been two months behind in paying rental.

 

"Rental for the month of August had not been paid in part due to an administrative discrepancy in the cheque issued to the landlord," the statement continued.

 

This brings its tenancy of 13 years at the Orchard Road shopping mall to an end.

 

A spokesman said its remaining stock will be offered for sale once an appropriate location has been found.

[SimonTan]

Usually this means the prime space is hot property....and someone must have place a even bigger deposit to rent that space?

 

Damm...there goes my favorite free library.

 

[Jman888]

Usually this means the prime space is hot property....and someone must have place a even bigger deposit to rent that space?

 

Damm...there goes my favorite free library.

 

 

strength that it get chase out last minutes, yah, one hotspot with no flood