Forum - View topicNEWS: Borders' Losses for July Total US$328 Million
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_V_
 Posts: 619 |
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....ouch.
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madlaxNoir2001
Posts: 49 Location: Anacortes,Washington |
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damn I remember it was bad but Jesus I did not know it was that bad .
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Top Gun
 Posts: 4808 |
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It's a real shame for the individual stores, since the whole thing smacks of completely incompetent management.
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Sewingrose
 Posts: 579 |
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And my e-mail tells me everything in store is 50-75% off, now. Yozza, that's a lot more debt.
Oh well, I'm going to go this weekend to stock up on the science and history books that my Dad will like. The manga selection has gone past the point of pitiful for a while though. |
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configspace
Posts: 3717 |
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I already picked up some stuff about two weeks ago and I have never ever seen Borders that packed. |
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Banden
 Posts: 140 |
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Can someone finance-savvy define the word "loss"? Is the difference between the liquidation pricing and original retail pricing counted as a loss?
If that's the case, then this figure would have nothing to do with Borders' prior indebtedness, but rather the new losses they are incurring in selling all their inventory at a discount in liquidation? |
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kusanagi-sama
 Posts: 1723 Location: Wichita Falls, TX |
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A loss is the cost of everything (Inventory purchases, advertising, salaries, equipment and buildings [rent, leases, maintenance], ect) exceeding the amount of items sold (income) |
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Finny-chan
 Posts: 448 Location: West Virginia, U.S.A |
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The manga was 40% off when I went there a couple days ago, but sadly I didn't have enough money on me to buy that much. So I got Pandora Hearts volumes 1 & 6 and Dengeki Daisy volume 1 all for $21. Its sad to see Borders getting screwed over even more I'm going to miss them since from now on I have to buy my manga online which is going to cost a lot due to shipping. Dx
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darcerin
Posts: 330 |
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JEEBUS.
 I was in there the day before the liquidation started, and it was bad then. I had NO idea they were hemorrhaging even more than before!
I have to wonder what Ann Arbor management was thinking before they realized "Oh crap, we're going down the tubes!" Ugh. |
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Sewingrose
Posts: 579 |
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They sorta have to be though, don't they? I mean at pricing everything 40-50-75%, which is better then Amazon and probably cost them as much or more to originally buy it, while still having to maintain store-fronts. They might be having a bit of an influx in cash at the moment but their product is massively devaluing and they are loosing overall money that way. At least this is my understanding of it. |
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bglassbrook
 Posts: 1244 Location: Gaithersburg, MD |
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Not so sure about that. If they were to really dip too low, then other sellers would descend like a flock of vultures, presuming they couldn't just return them. |
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Sewingrose
Posts: 579 |
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I don't think Borders can return the products back at this point, and I don't think other retail would be able to buy from them for their own inventory. First, there is no return option if it doesn't sell, and secondly, I'm pretty sure it's all over the contracts that they buy specifically from certain companies for X amount to resell at Y. Buying from a book seller that just defaulted on a whole bunch of debt, (where the publishing companies are going to loose money) instead of buying them from publishing company per the usual deal, sounds very likely to be against contract code. |
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enurtsol
 Posts: 14889 |
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Incidentally, if ya guys are wondering the latest updates about Stu Levy as well as Kodansha International (hint: they're the experts below that's being killed by the digital revolution that killed Borders):
"Digital shift is killing Japan's best English books: The economics of pixels and bytes leave little room for the experts" 
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Sunday Silence
 Posts: 2047 |
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And completely ignoring the fact that he himself also ran the company into the ground with his pet projects and his "OCD." |
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yotsubafanfan
 Posts: 653 |
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This sucks, Barnes and Noble doesn't cary of the Manga I like, and neither does Books a Million, I guess I'll be buying Manga online from now on if the store in the near by town of Clarksville closes. But what sucks more is that I bought my first Manga there, Yotsuba&! vollume 3 and I bought my second favorite Manga "Axis Powers: Hetalia" there. I'm also gonna miss how they used to sell Japanese candy there.
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