Madison Protests Boon for Bookseller

The huge demonstrations that have been going on for the past week at the state capitol in Madison protesting the Wisconsin governor’s proposal to cut benefits and take away state employees’ rights to collective bargaining have boosted A Room of One’s Own’s bottom line. Sales are up 30% over “a normal cold February,” at the feminist bookstore, says store owner Sandra Torkildson, who reports that political buttons and bumper stickers are especially hot items in her store these days.

Borders's Fall From Grace

The Borders Group that filed for bankruptcy last week was formed in 1995 when Kmart, which had bought Waldenbooks in 1984 and Borders in 1992, merged the two and spun them off into a separate company.

Borders's Store Footprint, February 2011

A map of Borders stores across the US, denoting how many are closing and how many remain open.

Borders Bankruptcy to Ripple Through Industry

The book publishing industry was just beginning to grapple last week with the many repercussions the Borders Group Chapter 11 filing will bring to all facets of the industry. The most immediate impact, of course, is the loss of revenue associated with the bankruptcy itself.

Downward Trend in Bookstore Sales Continues

Bookstore sales fell in 2010, although not as much as many had feared, helped in part by a holiday rally that pushed sales up by 5.3% and 2.3% in November and December, respectively. For 2010, bookstore sales were down 1.4%, to $16.5 billion, the third consecutive year that store sales have fallen after reaching a peak of $17.2 billion in 2007.

St. Louis Indies Form Alliance

Four independent bookstores in the St. Louis metro area announced Wednesday that they are forming the St. Louis Independent Bookstore Alliance. The group intends to raise awareness among both publishers and consumers of the independent bookstores in the region; host special literary events for St. Louis-area audiences; purchase joint advertising; and advocate at the local and state levels on issues affecting all independent bookstores.

Buffalo Street Seeks Community Buy Out

One week into a going out of business sale for 35-year-old Buffalo Street Books in Ithaca, N.Y., the store's outreach coordinator, Bob Proehl, may have found a way to put on the brakes. Yesterday he posted a letter on the store's Facebook page and Web site asking for the community to buy shares in the store. "The fact of it is," he wrote, "the market will not support a local independent bookstore in a town the size of Ithaca. It simply won’t.... But where is it written that the market dictates everything that goes on in our community?"

GOB Banners to Go Up Friday for 200 Borders Stores

At Thursday morning's hearing for Borders's bankruptcy, Chief Judge Arthur Gonzalez of U.S. District Court, Southern District of New York, gave the retailer the go ahead to liquidate 200 stores and begin going-out-of-business sales on Friday rather than hold off for the customary 21-day waiting period.

Publishers Want to Hear More from Borders

If Borders expects publishers to support its reorganization efforts, it needs to come up with a more viable turnaround plan and more realistic buying terms. That was the sense from publishers contacted by PW Wednesday, all of whom spoke off the record.

Bookseller Shirley Masengill Dies

Longtime children's bookseller Shirley Masengill, recipient of a Northern California Children's Booksellers' Association Otter Award for her unique role in bringing together children and books, died on February 12. She was 83.

The ABA Weighs in On Borders’s Chapter 11

A bookseller going out of business, even a chain bookseller, is bad for the book business, according to a statement just released by the American Booksellers Association. Commenting officially on the Chapter 11 filing made by Borders today, the ABA said it is "saddened when any bookstore closes" and that the industry "does not benefit from the diminishment of places to browse, discover, and buy books."

ABA Statement on Borders' Chapter 11 Filing

Though Borders is not a member of the American Booksellers Association, we are always saddened when any bookstore closes. The industry -- whether independent bookstores, publishers, or readers - -- does not benefit from the diminishment of places to browse, discover, and buy books.

New Distributor Launches in Kansas City

Midpoint National, the 23-year-old fulfillment house, which spawned and recently sold its share of Midpoint Trade Books, is launching a sales and distribution service of its own, Delphi Distribution. "I decided we've got everything in place," explained Midpoint president Ron Freund, who is serving as acting president of Delphi.

Store Closing List Released by Borders, 2010 Losses at $168 Million

The list of stores Borders hopes to close compiled by Hilco, the company hired to liquidate stores targeted for closure, has been released as part of the bankruptcy filing. Of the 642 stores operated by Borders, three were in Puerto Rico (two will be closed) and the balance in the U.S. Most of the 200 stores to be closed are outlets with over 20,000 square feet.

Borders Bankruptcy Filing and Store Closures

Borders Filing Said to Be Imminent

All signs point to Borders filing for bankruptcy protection no later than Wednesday morning. The company has instituted an ordering freeze and Ingram, the company’s lifeline to publishers, has stopped supplying the retailer. Several publishers told PW if the filing does not come Tuesday evening, Borders will file Wednesday morning. The timing for the filing, one publisher said, is in the hands of the bankruptcy lawyers.

New Clients for S&S and Consortium

It happens every spring, publishers shift distribution. Consortium Book Sales & Distribution is adding four clients this season. Books from two California-based presses are available now: Behler Publications in Lake Forest, which specializes in books chronicling personal journeys with socially relevant themes, and boutique publisher Nortia Press in Orange County, which focuses on current events, foreign affairs, business, and historical fiction.

Borders Watch: GE Capital Looking for Help

As Borders runs out of options and prepares to file for Chapter 11 bankruptcy protection, GE Capital, which committed to provide $450 million debtor-in-financing credit, is trying to limit its exposure, according to one major publisher.

Bookstore Sales Fell 1.4% in 2010

Bookstore sales fell 1.4%, to $16.50 billion in 2010, according to preliminary estimates released from the U.S. Census Bureau. The decline came despite a late rally in the year; a 5.3% increase in November sales was followed by a 2.3% gain in December when sales hit $2.09 billion. The December increase reported by the government was consistent with reports from many bookstores who reported their best holiday season in three years.

Still Waiting for Borders

With nearly every major news organization reporting that Borders will file for bankruptcy this week, the question among publishers is becoming more and more can the chain avoid a Chapter 7 filing that would result in the liquidation of the company. Borders had virtually no contact with publishers last week on whatever plans it is working on, even though it is believed an agreement by publishers to resume shipping books to Borders will be necessary to obtain debtor-in possession financing that will allow it to reorganize under Chapter 11.