A post at Consumerist rounds up a variety of bad owen surrounding troubled big box bookstore chain Borders:
Yesterday’s post about Borders closing down its unprofitable CD and DVD sections prompted a tip from the owner of a small music label. He says his distributor has already cut off shipments to Borders once for nonpayment (in November 2008), and on Monday the distributor warned labels that they’ll have to agree not to hold him “liable on any future shipments to Borders in case they file for bankruptcy.” Borders’ CFO left in January, which is rarely a good sign for a troubled company. And this morning, the Detroit Free Press notes that the bookseller is facing being delisted from the New York Stock Exchange. We may not have to wait long to find out; CEO Ron Marshall is hosting a conference call with analysts and investors next week.
The grim comments section has even more baleful signs, including this:
I work at a B&N in a town where there is also a Borders, and I’ve been hearing various grumblings from customers recently, from Borders not being able to special order certain items, or requiring that all special orders be paid for ahead of time. These weren’t always small-press books either, some of them were from major publishers. Word was that it was because their suppliers were not getting paid and were severely limiting what they could get. The above story seems to support that.
Borders’ financial troubles have been a point of much worry among comics publishers and distributors — some of the smarter among them are making future plans around the idea that there will not be a Borders around very soon. At the very least, proceeding with caution around the retailer would seem to be a necessity.
What does everyone think would be the result of a World Without Borders®?