Borders Group No Longer Considering Sale, Posts Wider Net Loss
Of little general interest, but two of the three Almanac(k) founders worked there once.
Bloomberg.com: U.S. | Borders Group No Longer Considering Sale, Posts Wider Net Loss
Nov. 25 (Bloomberg) -- Borders Group Inc., the second- largest U.S. bookseller, said it’s no longer considering a sale of the company as it posted a wider third-quarter loss.
The bookseller posted a third-quarter net loss of $175.4 million, or $2.90 a share, wider than the $161.1 million, or $2.74, deficit a year earlier, as consumers cut back on purchases of books and magazines.
Comments
I'm interested in this. Our jobs depend on Borders and BN here at Nolo. Their stores are our largest source of revenue by far. So in terms of keeping my job, thanks for this post.
em
Posted by: emma | November 25, 2008 07:42 PM
I am glad that it was appreciated. I love Store No. 1 and wish I got down there more often. I wish I had the money to buy books and magazines there regularly.
And since it is one of the few remaining large retailers in downtown Ann Arbor, I'm certainly rooting for it.
-A-
Posted by: Alan | November 25, 2008 11:52 PM
Well, since I'm only teaching two classes (as an adjunct) at miscellaneous liberal arts college, I'm (once again) working full time at Borders to pay the mortgage, so, yeah, I'm kinda rooting for them also.
Posted by: kilian | November 26, 2008 02:00 AM
And I'm not so jaded by my five years of working that I don't think it'd be terrible if we lost a national book chain like that. Well, we can lose B&N. They suck.
Posted by: Mojo | November 26, 2008 01:01 PM