We’re delighted to report that Borders sent out a new e-mail blast to customers in markets with closing stores. This flyer is significantly less confusing than last week’s, which sent r Devin on a heroic quest to get the additional 10% discount that the e-mail had promised him.
Reader Syndicate Product spotted this sign at a Borders store in liquidation, noting that manga and graphic novels were only 30% off at the time…and then there’s the 8% sales tax in this area. Not particularly cheap, then. The sadness and frustration still come through.
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.
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.
Catch Ben Popken on Bloomberg TV tonight at 5:45 pm. He’ll be talking about retail liquidations, including the one that’s going on at certain Borders’ stores, and whether they’re a good deal for consumers. (Yeah, right!) There will also be a Worst Company In America update. Tune in to Bloomberg TV, or watch online at Bloomberg.com/tv, at 5:45 p.m. ET. See you there!
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.
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?