Borders is Out of Business

6 Oct

The international bookseller Borders Group Inc has been bankrupt for a while. As of recent, it is trying to sell whatever it can from the sinking ship ranging from bookshelves to customer data lists.

Reason for the demise of the once successful book retailer can be attributed to its various mistakes. For one, Borders had failed to adapt to the age of online book selling and e-books. While its rival bookseller Barnes and Nobles made great effort to adjust to the latest changes by establishing online stores and developing its own version of e-books, Borders just sat back and left the online stuff to Amazon.

Borders serves at yet another example of what happens when a business anachronistically sticks to its old tricks and fails to meet the up-to-date methods of the digitized era. Traditional books, magazines and newspapers are steadily losing their places as  printed material with the rapid spread of online/digitized reading material. The 40 years old bookseller would not have met such an unfortunate end if it had gone with the obvious flow. If you couldn’t beat them, might as well should have joined them.

http://www.businessweek.com/news/2011-10-04/borders-to-put-remaining-assets-in-liquidating-trust.html

http://moneyland.time.com/2011/07/19/5-reasons-borders-went-out-of-business-and-what-will-take-its-place/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: