In addition to the 200 or so stores Borders announced a while back that they were closing, they’ve just announced that they’re closing an additional 27 stores (one more store was saved at the last second by concessions from the store’s landlord). Additionally, Borders is now again receiving delivery of new stock from at least some of its vendors, but it now has to pay for them cash-on-delivery (COD). How many Borders stores will be left by the end of the year?
My wife and I hit the local doomed Borders this weekend, and while their stock is fairly well picked-over, they’re still only offering most books for 30% off. When you factor in our local usurious sales tax (nearly 7%), they still can’t compete with Amazon. Admittedly, the remaining mainstream fiction, romance novels, and biographies are at 40% off already. When they hit 50% off, I’ll head back there and scavenge a few things.