The winds of change over at bankrupt Borders are blowing the company from its current Ann Arbor, Mich. headquarters over to Metro Detroit.
Do you live near a closing Borders store? Did you receive an e-mail last week promising 10% off in addition to rewards-card discount and liquidation markdowns? Devin did, and he and other customers were frustrated when Borders employees wouldn’t give him the discount promised in the e-mail. Except the message didn’t promise any additional discount. Or maybe it did.
We’ve gotta hand it to the employee at a doomed Borders store who still has a sense of humor about the company they work for going down the drain.
Borders announced late yesterday that heartbreak, job loss, and terrible liquidation sales are coming to even more of its stores than previously announced, as part as the company’s bankruptcy plans. In a statement the company said that the stores added to the list will close by late May, and could start liquidation as soon as this weekend.
Reader “Ann” works at Borders, and wants Consumerist readers to know that many employees there find the constant flogging of the rewards program problematic. Ann, for one, found a sales script that employees are encouraged to use so troubling that she wrote in to Consumerist about her concerns.
The liquidators have swooped into Borders with giant black and yellow signs screaming 20-40% off. But are these sales a good deals for consumers? I visited one to find out.
Two big-box retailers are currently liquidating: Ultimate Electronics is closing all of its stores, and almost a third of Borders locations are closing. Surely this presents some excellent savings opportunities for consumers. Let’s be vultures and check in on the progress of the sales.
Savvy shoppers know that there aren’t any true deals to be found at the liquidation sales of closing retailers, but most people aren’t savvy shoppers. Employees of doomed Borders stores are sharing their experiences online, and report that their stores are doing record business now that the liquidators have arrived and the garish “store closing” signs are up. Thanks to consumer confusion, business is good at the stores that aren’t closing, either. Who knew bankruptcy was so good for business?
After failing to keep pace with the boom of e-readers and develop a strong digital presence elsewhere on the interwebs Borders Group Inc. could file for Chapter 11 bankruptcy-protection as early as Monday or Tuesday.
Stumbling book store chain Borders has said that it would delay payments to landlords and vendors for the 2nd month in a row. In a terse press release, the company said the move was meant to “help the company maintain liquidity while it seeks to complete a refinancing or restructuring of its existing credit facilities and other obligations.” In other words, they’re trying cling to cash and stave off bankruptcy. Borders also announced receiving a $550 million loan from GE Capital. Better keep pushing those loyalty cards to customers that could become worthless pieces of plastic if the company goes belly up, Borders clerks, you’re our only hope! Customers, if you got a Borders gift card for Christmas, now might be a good time to cash it in.
Get ready to say goodbye to the E-Trade baby and Frontier Airlines. According to 24/7 Wall Street, the two businesses are among their 10 picks for companies that will not survive the year. Others that may not be long for this world: Sara Lee, Gateway and Office Depot.
Employee: Borders Is Making Us Push Loyalty Cards That May Be Worthless If Company Declares Bankruptcy
Though they swear everything is hunky-dory, Borders is delaying payments to big publishers and setting up some coffee klatches to talk it over. Is Borders reaching its final chapter?
Reader M bought four books online from Borders for $17.82 and was charged $7.07 in sales tax. Unless the books were cigarettes, there was probably an error on Borders’ end. But M says the bookseller refuses to acknowledge a mistake.
Equipped with a coupon and store credit, Scott thought he was in a great position when he placed an order on Borders.com. But a snafu left Scott empty handed, with his order canceled, his balance drained and his coupon vanished.
DirecTV ads are everywhere — on TV in your mailbox, on flyers stuck on doors and in glossy Sunday newspaper ads — so it’s only natural that David found one along with his Borders receipt.
Quadmama wanted to exchange a pair of books she received as gifts, but the manager stonewalled her because she was 60 days outside of the return window. When Quadmama reiterated that she wanted to exchange the books for replacements, not return them for money, the manager told her that for the bookstore’s policy purposes, a return is the same as an exchange.