Doors Close, Others Open....Or Not

The saga of Borders is coming to a close.

Lawyers for the bankrupt book chain are heading to court for approval on a plan to liquidate assets, shutter shops, and go out of business.

It's expected that the liquidation will bring in $250 million, which the creditors preferred to the deal of $215 million in cash and $220 million in assumed liabilities that Najafi Companies put on the table.

If there's a favorite chair that you'd like to purchase, to move into your home now that Borders is no longer able to serve as a second residence, this is your chance.

Strip malls that relied on Borders' foot traffic are looking at a rather bleak future, given the state of the current economy. Those big boxes will sit empty in towns all across the country, offering too much space for a small start-up and costing too much to divide.

Those who bought from Borders will go elsewhere for their purchases, but there is not enough business there to induce Barnes and Noble or Books-a-Million to take over the leases.

Small indies stand to benefit, but only if they are already operating. There doesn't seem to be much incentive for start-ups, especially when brick and mortar stores are increasingly becoming nothing more than display sites for those who then buy online.

If Borders was the only game in town, it's likely that the nearest public library would see in increase in patronage as people find a ready source of the books they want to read. That's not such great news if you're trying to sell a lot of books.

Major publishing houses are mourning the loss of another outlet for their product. More and more, they are thrown into Amazon's maw, with all the steep discounts and pricing cuts that are required to gain entry into the world's largest bookstore.

What's an avid reader to do? If you live near a bookshop, buy from them as often as you can.

It's not more expensive, in the long run. It's an investment in your future ability to obtain the sorts of books you like to read, as recommended by someone who knows what all those books on the front table are about.