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A daily look at what we buy, how we spend, and the companies that do right - and wrong - by their customers.

Borders - All posts tagged Borders

  • Sep 6, 2011
    11:25 AM ET

    Everything Must Go! What’s Left in Borders’ Last Days

    SmartMoney

    With just days to go before Borders ends its liquidation sales, consumers might want to make one last shopping trip to the soon-to-be-defunct bookstore.

    In an email sent to consumers Monday, Borders said its sales are in their final “10 days and counting.” Everything in the store is at least 60% off, and discounts range as high as 80%. (The fixtures are for sale, too, although those aren’t subject to the same discounts.) But are the pickings too slim, the stores too disorganized to bother? We set out to the Columbus Circle location in New York City to see what’s left.

    Our take: It’s worth a trip, provided you’re a voracious reader of select categories and arrive armed with a smartphone to compare prices online. The business section is only slightly more populated than our office’s giveaway table for advance reading copies, and the travel section is only useful if you’re bound for Kansas City or Cleveland, but the politics, history, science fiction, romance and mystery sections are still pretty flush. (Of course, selection is likely to vary widely by store.)

  • Jul 22, 2011
    10:01 AM ET

    Don’t Jump at Borders’ 40%-Off Sale

    iStockphoto

    Borders began going-out-of-business sales for its 399 remaining stores today, with a starting offer of up to 40% off everything. The key words there for eager shoppers: “up to.”

    Most items are starting with discounts of 20% off, which we reported earlier this week may not be enough of a break to eclipse regular prices at competitors like Barnes & Noble and Amazon. The advertised 40% deals are primarily on slow-moving items like less-popular DVDs and older books like almost-outdated computer titles, reports The Wall Street Journal. (Borders did not respond to requests for comment.) Liquidators take stock of sales on a weekly basis, and most shoppers are better off waiting for the next round of markdowns.

  • May 18, 2011
    3:22 PM ET

    Borders Customers: Unsure About Next Chapter

    Getty

    This may not be a good time to buy a Borders Gift Card, but if you have rewards credits and a gift card to redeem or book returns to make, visit one of the local 425 stores nationwide now. By the end of the month, there will be just 405 stores, according to Borders, and according to a recent report in The Wall Street Journal, the store is looking for a buyer to take over half of them.

    Citing unnamed sources, The Wall Street Journal recently reported that the store is in early talks with a potential bidder for just 225 of its locations to keep the bookstore operating as a going concern. The 41 million-strong army of Borders Rewards members is arguably one of the most tempting prizes for any bidder for a bricks-and-mortar store like Borders, which has suffered from competition from online booksellers like Amazon.com.

    Borders spokeswoman Mary Davis says the company plans to emerge from the bankruptcy process in August or September. But in a worst case scenario, its gift card holders may be out of luck, says Allan Rosenthal, manager of the San Francisco-based Bankruptcy Center of John. D Raymond, which is not involved with the Borders Chapter 11 process. The company filed for Chapter 11 bankruptcy protection in February when it had 17,500 employees and 651 stores; it now employs 10,000 people, according to Davis.

About Pay Dirt

  • Pay Dirt examines the millions of consumer decisions Americans make every day: What to buy, how much to pay, whether to rave or complain. Lead written by Quentin Fottrell, the blog examines these interactions, providing readers with news, insight and tips on shopping, spending, customer service, and companies that do right – and wrong – by their customers. Send items, questions and comments to quentin.fottrell@dowjones.com or tweet @SMPayDirt.