Comments | iworkatborders: Books-A-Million Withdraws Offer to Buy 30 Borders Stores

denardo in iworkatborders

Books-A-Million Withdraws Offer to Buy 30 Borders Stores

Jul 26, 2011 02:37

July 25 (Bloomberg) -- Books-A-Million Inc. said it ended its bid to buy 30 Borders Group Inc. locations after the companies failed to agree on terms and going-out-of-business sales at the locations had started.
"We worked exhaustively in an effort to acquire these stores and reach agreements with all of the parties whose consent was necessary ( Read more... )

Comments 33

Another article on this denardo July 26 2011, 06:40:34 UTC

http://online.wsj.com/article/SB10001424053111903999904576468843832128486.html... )

That's it then. denardo July 26 2011, 11:35:43 UTC

Looks like the last hope of salvaging anything in the field is gone now.

Has anyone heard about Borders.com? Are they still trying to sell that off or is it closing down also?

Good luck to everyone.

denardo July 27 2011, 03:06:55 UTC

I used to work in one of the Oregon stores, and while I'm never going back to retail (knock on wood), I am disappointed for my friends who stayed until the bitter end. This includes the best GM I ever had who is just one of the many who gave 20+ years to BGI and now doesn't have so much as a COBRA to show for it.

Re: Another article on this denardo July 29 2011, 12:31:49 UTC

how are you doing Denardo? Thank you for your posts over the years.

torture anonymous July 26 2011, 10:59:36 UTC

I don't think I've ever seen a longer, slower, more horrible death of a company than this....

lilibets July 26 2011, 11:03:43 UTC

my sympathy to those in the 30 stores, sometimes hope is crueler than despair

anonymous July 26 2011, 11:37:25 UTC

And the continue to fuck things up right down to the very end....Jesus, what a company.

anonymous July 26 2011, 12:29:46 UTC

I have a theory that this company never intended to turn things around after declaring CH 11. I also think the potential buyer scenario was part of the hoax. They knew liquidation was the only answer and just played things out as long as possible.

The way the events of the past two weeks happened just reenforces my belief. Amazing how everything happened within about four days...and how quickly the liquidators were able to move.

anonymous July 26 2011, 15:39:14 UTC

The liquidation companies have a staff of consultants that are on 24 hour notice to be able to drive or fly anywhere in the U.S. It does not take that long to gear up for a liquidation as they have everything on stand by as that is their business.

I have a theory. anonymous July 26 2011, 20:14:56 UTC

It could be bunnies.

Re: I have a theory. denardo July 27 2011, 00:49:41 UTC

And thus I had the rest of this song stuck in my head for the rest of the afternoon.

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