New financing or not, Borders is still delaying the payments. Galleycat reports on Borders’s announcement that it will be delaying some end-of-January payments to “vendors, landlords and others,” while it works on refinancing and restructuring.

I wish them the best of luck with that, but given how quickly they were sliding into a hole before, I have a hard time seeing them being able to climb back out that easily. And Borders still has to find publishers or others willing to chip in $125 million in order to get the $550 million GE Capital is fronting. Is anyone really going to want to take that kind of risk on a company that’s been underperforming for years? Really?


  1. Why lament what you don’t support? Other bloggers are lamenting the fall of Borders and how it will lead to an absence of a large bookstore in many communities. True but where do they do their book shopping? At Amazon. If you aren’t going to support Borders why lament its death?

  2. Richard wrote:
    “If you aren’t going to support Borders why lament its death?”

    That’s simple. Because it keeps competition in place. Competition is part of what keeps prices and service under some kind of control.
    So not specifically buying from Borders has nothing to do with wanting as many outlets to stay in business as possible.

  3. @Howard — If you don’t buy at Borders how do you expect them to remain in business and be comeptitive? Or is it that you want others to make the sacrifice so you can have competition and reap the benefits? We used to refer to it, especially when speaking of classroom teachers, as the “do as I say, not as I do” syndrome.

  4. Every retailer has those who prefer it. I have my preference, others have theirs. You infer that the reason Borders is going out of business is the customers. It is the management who have failed, not the customers. I prefer their competitors. I can still lament them going out of business. It is perfectly reasonable.

    PS: Am I the only one who is pissed off with the change in Captcha ? no one else is commenting or complaining apparently …. 🙁

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