Borders Files for Bankruptcy
Borders Group, owner of 659 bookstores across the United States, has filed for Chapter 11 bankruptcy protection.
My lawyer buddies tell me this doesn’t actually mean they’ve filed ten previous chapters of bankruptcy, so apparently bankruptcy doesn’t proceed the way books do. Figures.
Borders said it will close about 200 of its most under-performing stores in the next several weeks. The list of stores that will close is here.
Today Borders is the country’s second-largest book retailer, just behind Barnes & Noble, with over 5,800 full-time and nearly14,000 part-time employees.
This follows the news that Barnes & Noble put itself up for sale last August, following a 45% slump in share price and a nearly 5% decline in year-over-year sales from store operations. It’s a tough time to be a brick-and-mortar book retailer.
Borders released a statement today saying:
It has become increasingly clear that in light of the environment of curtailed customer spending, our ongoing discussions with publishers and other vendor related parties, and the company’s lack of liquidity, Borders Group does not have the capital resources it needs to be a viable competitor.
Alice reminds me it’s probably time to get off my butt and redeem about a hundred bucks in assorted Borders gift cards we’ve accumulated over the years, before they’re rendered useless. The cards are scattered around the house, currently pulling duty as attractive bookmarks. She’s probably right, although I’ll doubtless lose my place in several books as a result. I need to think about it.
Gaming magazines can be a great asset to planning a roleplaying game, but I’ve often considered them to not be worth the cost. This one, reviewed by our very own Howard Andrew Jones, looks like it gives quite a bit of bang for the buck (or, in this case, 2 bucks). The publisher, 
The Eagle (2011)
Reading The Fifth Head of Cerberus, I was struck by the way the book seemed eminently suited to the internet age. Never mind that it was written in the early 1970s. Like many of Gene Wolfe’s fictions, it’s a text whose nature is in harmony with the way the internet allows a text to be scrutinised; its depths, its meanings, its allusions — or at least some of them — can produce multiple readings, any of which can be valid, but which deepen the work as a whole the more of them you can think of and hold in your head at once. And can any one reader imagine as many different readings as a community of readers will produce?