Borders has filed for Chapter 11 and is closing 200 stores - about a third of their total number of stores.

On the closing list:

3209 NW Expressway in OKC
8015 S. Yale in Tulsa

The Norman store is not on the list and will stay open.

Sad day.....

FULL LIST (sortable) OF BORDERS STORES CLOSING:
http://s.wsj.net/public/resources/documents/st_borders0216_20110216.html

Sad, I actually liked that Borders over the B&N in the city.

I guess the Kindle and other e-readers are helping push these bookstores out. I feel old now, I still like the feeling (and smell) of a book in my hands.

I quit patronizing local bookstores because they never had anything I wanted to read.

I hate to hear that. I too liked Borders over Barnes and Noble. At least the Norman store will remain open for now.

Sad. The wife and I often spent a Sunday afternoon drinking a coffee and reading books/magazines at the NW EXP location. Guess we'll go to Norman from now on.

I saw this in today's MSN. OKC is closing their only store. Tulsa will be closing one store and keeping their other store in Midtown Tulsa.






http://money.msn.com/how-to-invest/latest.aspx?post=eda0c5a0-c302-4cff-b8cd-97b3d4414b5b&GT1=33009

Maybe this will provide people in the area added reason to give Full Circle Books a try. The only thing Borders had that Full Circle didn't was DVDs and CDs.

Sad. The wife and I often spent a Sunday afternoon drinking a coffee and reading books/magazines at the NW EXP location. Guess we'll go to Norman from now on.

You can do the exact same thing down the street at B&N.

You can do the exact same thing down the street at B&N.

We've never really liked B&N.

Maybe this will provide people in the area added reason to give Full Circle Books a try. The only thing Borders had that Full Circle didn't was DVDs and CDs.

Yep - I support local merchants when I can, and Full Circle usually has what I'm looking for. I might save a couple of bucks elsewhere, but Jim Tolbert has been darn good to this community.

The Borders building would make a good spot for another specialty grocer

Hopefully this is a boon for Full Circle.

That Borders space has got to be worth a lot of money. Right next door to the Marriott hotel, across the street from Baptist/Integris, just west of May on Northwest Expressway, a couple of blocks from the new Dave & Busters and that whole development, just a little more than a mile from Penn Square. Somebody will probably have to pony up some big bucks, but I can't see it sitting empty at that prime spot for long.

They are closing all three Austin stores, none of the San Antonio stores.

It was a very illogical decision to close the OKC store instead of the Norman store. Then again, they looked at which properties have the highest resell values and closed the stores base on that. At least, that is the way I am seeing it.

They are closing all three Austin stores, none of the San Antonio stores.

Wow. That surprises me. With the university and all? I read where a lot of university towns were spared (like Norman here in Oklahoma). I am very surprised that Borders would close all three in Austin and keep all San Antonio stores open? Bizarre.

Wow. That surprises me. With the university and all? I read where a lot of university towns were spared (like Norman here in Oklahoma). I am very surprised that Borders would close all three in Austin and keep all San Antonio stores open? Bizarre. I agree. It seems strange since Austin is full of transplanted East Coast and West Coast people. With Dell, Whole Foods, UT and IRS it would seem like such an educated enviornment.

Here's an article about Barnes & Noble which gives an overview of the book industry. http://online.wsj.com/article/SB10001424052748704111504576059582667648722.html



The traditional book industry has faced increased competition from not only Amazon.com but also Google Inc. and Apple Inc. as more competitors seek a bigger slice of digital book pie.



Digital books may eventually represent over half of the book sales in the next few years, up from under 10% currently, the analyst said.



"There's still a lot of uncertainty," he said, adding the traditional book industry is still oversaturated with stores and would likely lead to more consolidation. "There are a lot of risks. The competition is going to be fierce."

It was a very illogical decision to close the OKC store instead of the Norman store. Then again, they looked at which properties have the highest resell values and closed the stores base on that. At least, that is the way I am seeing it.
I am not sure what the ownership status of the NW Expressway store is, it may be a long term lease, I don't think that Borders actually own many of the physical stores they are located in usually preferring leases. Most of the Walgreen's stores that I did in Oklahoma were build-to-suit long term leases, only one was a turn-key store. I would imagine that lease buyouts and such may have played a factor in the decision of which stores are closed and which stay open, it is rarely based on per store sales figures alone. All of the stores here are lease stores in strip malls or lifestyle centers including the store across the street from my office.


Wow. That surprises me. With the university and all? I read where a lot of university towns were spared (like Norman here in Oklahoma). I am very surprised that Borders would close all three in Austin and keep all San Antonio stores open? Bizarre.

I agree. It seems strange since Austin is full of transplanted East Coast and West Coast people. With Dell, Whole Foods, UT and IRS it would seem like such an educated enviornment.
We have many Barnes & Noble stores, then we also have the local chain Book People and Half Price Books is very popular as well, we also have quite a few small, independent stores. I would also imagine that with the relative youth and tech industry here many more might have migrated over to digital book readers (like the Kindle, Nook, iPad and the Sony one) than in some other markets and most probably buy the majority of new titles online which reduces the need for the bricks and mortar store. Being behind the e-reader curve was probably one of the biggest blunders for Borders.

Who cares, borders sucked, they were expensive!!!!!!!!!!!!!

Wow. That surprises me. With the university and all? I read where a lot of university towns were spared (like Norman here in Oklahoma). I am very surprised that Borders would close all three in Austin and keep all San Antonio stores open? Bizarre.

Borders is also closing 7 stores in the DFW metroplex and keeping thier Houston stores open as well.

It was a very illogical decision to close the OKC store instead of the Norman store. Then again, they looked at which properties have the highest resell values and closed the stores base on that. At least, that is the way I am seeing it.

I agree with what bluedog said. When K-Mart decided went thru the same thing, to close their stores, it had more to do with the high rent/overhead they had in the relatively new spaces they were in. The stores they kept in Tulsa and other places are in locations were either they either own the buildings or the rent is so low (buildings are ancient) it made sense for them to do so.

Who want to explain this? They rent/lease the land, but they pay and own the building.

It does sound confusing and I am a bit fuzzy on it myself but the way I understand it, when you go through these restructuring you sell assets (if they owned the buildings outright and didn't owe the bank) or get out of your lease agreements. This way the company eliminates or significantly reduces the amount of debt and might become profitable again.

We have a Border's?

It's too bad, but places like B&N, Borders, and Books-a-Million haven't been able to get on the wagon with e-books or compete with the prices of Amazon. Unless they can start altering their business models, they're going to follow the CD industry (which is down more than 1/2 compared to only 3 years ago when it was already declining in favor of electronic stores).

Price is #1 here. When you can get the same exact thing on Amazon and get it shipped (1/2 the time for free) for less than the brick and mortar store sold it for...why go TO the store? Not to mention the fact that when you shop online, you can always find what you need and when you're IN the store, half the time they don't have it and have to order it. If you have to wait, why not get it online?

It's sort of like buying groceries online though. What you miss out on is the browsing. A random book you wouldn't have thought of doesn't catch your eye now. Little calendars, bookmarks, etc. And the "customers that bought this, also bought this...." doesn't quite fit the same. It works great of movies a lot of the time with surprising results, but books just aren't the same. But cost is the ultimate winner. People are willing to give up a lot for price.

I don't go for the books or music but to have coffee, maybe a cookie, bagel or pastry, and read magazines. Judging by how busy the cafe is compared to the rest of the store I imagine many others do the same. I can do that at Border or B&N but I like the magazine selection better at Borders, especially the one in Norman since it carries several of the architecture magazines I like to read while B&N doesn't.

The problem is all these so called intellectuals went to Borders and read books and magazines - but they didn't buy them. Freeloading trumps educational attainment every time.

Who want to explain this? They rent/lease the land, but they pay and own the building.
There are many different ways to structure a property deal. There are build-to-suit deals with various options.

Most of the Walgreen's stores that I did in Oklahoma were a build-to-suit with a long term lease (10, 15 or 20 year). This means the developer (one who has been discussed here several times) buys the property and builds the store for the tenant but it is built to the tenants specifications, the developer retains ownership. This gives the tenant the flexibility (via a buyout clause) to terminate the lease according to the terms of the lease. Sometimes the tenant also has a purchase agreement negotiated in the lease where for a specified amount they can purchase the land/building from the developer or current owner. One store that I did was a "turnkey" building, in this the developer does the same thing with land and construction but at the conclusion of construction the tenant (Walgreen's in this case) actually closes the deal by purchasing the land/building.

You also have land lease/building owner arrangements, most of the building in Downtown Dallas are this arrangement. This type of deal may have many partners, the land is owned by one party and the developer enters into an agreement to lease the land long term (most of the Dallas leases that I saw were 100 year) and the building is financed/owned by another party. The First Baptist Church of Dallas was one of the largest property owners in Downtown Dallas at that time (almost 20 years ago).

Most of the stores here were tenant finish-out in existing centers, since the Borders at The Domain is just outside our window I know the rent there is probably a bit extreme. They do have a stand-alone store in Southpark Meadows but I don't think they own it, it was a build to suit but I think Endeavor owned the actual building.

I don't go for the books or music but to have coffee, maybe a cookie, bagel or pastry, and read magazines. Judging by how busy the cafe is compared to the rest of the store I imagine many others do the same. I can do that at Border or B&N but I like the magazine selection better at Borders, especially the one in Norman since it carries several of the architecture magazines I like to read while B&N doesn't.

Freeloading - yup that'll keep a business open won't it.

The problem is all these so called intellectuals went to Borders and read books and magazines - but they didn't buy them. Freeloading trumps educational attainment every time.

Is it truly "freeloading" if the company that offers it consciously does so as part of the model to get people in the stores, just like a grocery store offers a cheap price on a particular product as a "loss-leader" to engage customers? That is, B&N and Borders have/had comfy chairs and coffee bars as part of their stores for as long as I remember. I believe I remember them at one point even advertising that you can read at your leisure and you won't be "bothered" by sales people. That model seemed to be working just fine until the Internet showed up and electronic content delivery took over, so no matter how you look at it, the "freeloading" wasn't part of the problem. It worked until the broader dynamics of the marketplace changed in a whirlwind around them.

Is it truly "freeloading" if the company that offers it consciously does so as part of the model to get people in the stores, just like a grocery store offers a cheap price on a particular product as a "loss-leader" to engage customers? That is, B&N and Borders have/had comfy chairs and coffee bars as part of their stores for as long as I remember. I believe I remember them at one point even advertising that you can read at your leisure and you won't be "bothered" by sales people. That model seemed to be working just fine until the Internet showed up and electronic content delivery took over, so no matter how you look at it, the "freeloading" wasn't part of the problem. It worked until the broader dynamics of the marketplace changed in a whirlwind around them.

Good point. Also, I think Starbucks and social networking is doing what "mega-bookstores" use to do.

Freeloading - yup that'll keep a business open won't it.

Yep. A big reason they are going out of business. Same for newspapers. Why subsribe to the Oklahoman when I can get the content online for FREE?

Yep. A big reason they are going out of business. Same for newspapers. Why subsribe to the Oklahoman when I can get the content online for FREE?

For the Sunday paper coupons? Why else? :-P LOL Granted that may just be me, but I enjoy saving over 50% off my grocery bill by using them.

For the Sunday paper coupons? Why else? :-P LOL Granted that may just be me, but I enjoy saving over 50% off my grocery bill by using them.

Me too. That and the TV guide. They went back to the old format of the TV guide so maybe they're keeping it around.

Yep. A big reason they are going out of business. Same for newspapers. Why subsribe to the Oklahoman when I can get the content online for FREE?

Are you the only one in your family that reads the newspaper? In my house we read the newspaper in the morning while relaxing in our recliners with coffee or orange juice while passing around the different sections of the paper. It would not be very convenient to all gather around the computer screen and have everyone read the same article at the same time or, if you're using a laptop, pass the laptop around.

Me too. That and the TV guide. They went back to the old format of the TV guide so maybe they're keeping it around.

When did they go back? I didn't get one in last Sunday's paper (and still saw the ads encouraging you to subscribe to the guide???

... It would not be very convenient to all gather around the computer screen and have everyone read the same article at the same time or, if you're using a laptop, pass the laptop around.

maybe that's why God inspired someone to invent the convenient and inexpensive wireless netbooks?

maybe that's why God inspired someone to invent the convenient and inexpensive wireless netbooks?

Aye, aye! There is no reason for someone to not own a laptop...notebook...and now this new name, netbook. What's next? Something about iPad and whatever else. Many of these are very affordable. One can receive so easily and save our precious Mother Earth from the extra littering.

Are you the only one in your family that reads the newspaper? In my house we read the newspaper in the morning while relaxing in our recliners with coffee or orange juice while passing around the different sections of the paper. It would not be very convenient to all gather around the computer screen and have everyone read the same article at the same time or, if you're using a laptop, pass the laptop around.

They all read it online too, on their own time in the morning before work, during work, in the evening, etc. I usually read it on my phone if I'm not at my desk. The idea of sitting around and passing the newspaper around is old-fashioned and, for most people, obsolete. It's all about convenience and having the news always update on my phone so I can check it whenever and wherever I want is important. The only paper news I still read is Time Magazine, at Borders/B&N for free. If I get an iPad soon I will probably subscribe to the e-edition though, again for convenience.

I have no use for a TV Guide either because my TV's have cable boxes that automatically pull up the guide. I have the few shows I watch set to DVR and watch on my own time, not 8/7 Central...

When did they go back? I didn't get one in last Sunday's paper (and still saw the ads encouraging you to subscribe to the guide???

With the exception of the launch of the new improved TV Guide, my Sunday paper has always had the old format TV guide included.

A while back I read several articles on Borders and their management and decision-making process up at the corporate level. As far as I can tell they're the GM of the book world... no surprise that they are tanking.

Austin closing up doesn't surprise me. That is a really wired city. For example a restaurant or other local business opens here and it is probably not going to have a website. There, it's almost a de facto standard. Probably enough people there buy eBooks that there isn't as much room for competition.

Yep. A big reason they are going out of business. Same for newspapers. Why subsribe to the Oklahoman when I can get the content online for FREE?

Get ready... the age of getting news - real journalism - for free online is coming to an end.

Get ready... the age of getting news - real journalism - for free online is coming to an end.

I would pay for a subscription to the online newsfeed, but right now it's all available free. I usually scan over several newspapers a day (NY Times, Oklahoman, Tulsa World, Dallas Morning News, Austin American Statesman, Denver Post, KC Star) and if they all go to online subscription I would probably just pick one or two.

Get ready... the age of getting news - real journalism - for free online is coming to an end.

Nah. Smart people don't pay to access like what that junk NewsOK does. People share login info...pass whole articles onto somewhere else, etc. Why pay NewsOK? They're so unreliable anyway.

The only way on-line news is going to make money by charging is if it all done through an app or software. Every news organization that has tried to charge find their readership drops like a rock and loses advertiser. Conversely, people that pay for an on-line subscription don't want ads. Pick your poison.

We will see how Rupert Murdoch does with 'The Daily'.

http://www.thedaily.com/

The only way on-line news is going to make money by charging is if it all done through an app or software. Every news organization that has tried to charge find their readership drops like a rock and loses advertiser. Conversely, people that pay for an on-line subscription don't want ads. Pick your poison.

We will see how Rupert Murdoch does with 'The Daily'.

http://www.thedaily.com/
I've been reading The Daily. I think it is pretty good. The images are outstanding. The App is a little quirky for me still. I haven't decided whether I will subscribe although I am leaning against. The big issue for me is whether or not I actually will have enough time to read the articles.

I do subscribe twice to The Oklahoman -- one for my iPad and the other for my Kindle. Probably keep both of them. I really do like The Oklahoman's digital offerings.

The only way on-line news is going to make money by charging is if it all done through an app or software. Every news organization that has tried to charge find their readership drops like a rock and loses advertiser. Conversely, people that pay for an on-line subscription don't want ads. Pick your poison.

We will see how Rupert Murdoch does with 'The Daily'.

http://www.thedaily.com/

The Oklahoman has one of the best iPad apps in the entire country. 7 Day trial on the iPad. If you look for it in the app store it's NOT the "NewsOK" app, it's "The Oklahoman". The Oklahoman app looks like a print edition - it's incredible. It's been getting national attention, too. Poynter, etc.

With the exception of the launch of the new improved TV Guide, my Sunday paper has always had the old format TV guide included.

That's what I am talking about, it was always included with the Sunday paper, then they made the switch to the subscriber based one and threw it in for "free" the 1st couple of weeks. Wasn't impressed with it enough to pay the added cost. So I am doing without for now.

His post sounded like they had switched back to the old one. If they have, I didn't get mine. We'll see what happens with Sunday's paper.

Yep. A big reason they are going out of business. Same for newspapers. Why subsribe to the Oklahoman when I can get the content online for FREE?

Or why pay to go to the Movies, when you can watch it at home for free?

Or buy a book, when you can go to the library?

Or why pay to go to the Movies, when you can watch it at home for free?

Or buy a book, when you can go to the library?

Library... Every time I've been there, they only have old books...nothing newly released.

May want to ask the Librarian then, as they routinely add new books (but may be checked out)

They all read it online too, on their own time in the morning before work, during work, in the evening, etc. I usually read it on my phone if I'm not at my desk. The idea of sitting around and passing the newspaper around is old-fashioned and, for most people, obsolete. It's all about convenience and having the news always update on my phone so I can check it whenever and wherever I want is important. The only paper news I still read is Time Magazine, at Borders/B&N for free. If I get an iPad soon I will probably subscribe to the e-edition though, again for convenience.

I have no use for a TV Guide either because my TV's have cable boxes that automatically pull up the guide. I have the few shows I watch set to DVR and watch on my own time, not 8/7 Central...
It may be obsolete and old fashioned in your world but not for most people. Evidently everyone in your family is on their own time and don't spend any time together in the morning. And if you have time to check out the news on your computer or phone while you're at work you must not be as busy as I am. My family likes to get their news in the morning while relaxing and it can be focused on, not when we're on the run and busy with other things. I agree about the TV Guide. I have little use for that because it's something that can be changed or updated daily and I usually know basically what I'm going to be looking for. The TV Guide is a totally different issue than news, however. I won't argue with you about magazines because those rarely use immediate information.

Hmmm. We're all different. Imagine that.

Hmmm. We're all different. Imagine that.

Agreed, Mike. That's why there will continue to be a place for the printed newspaper.

The Oklahoman has one of the best iPad apps in the entire country. 7 Day trial on the iPad. If you look for it in the app store it's NOT the "NewsOK" app, it's "The Oklahoman". The Oklahoman app looks like a print edition - it's incredible. It's been getting national attention, too. Poynter, etc.

I have Android and there is a NEWSOK app for $0.99. I'm not sure what the 99 cents buys me since I can already use the mobile newsok site via my phones web browser.

I have Android and there is a NEWSOK app for $0.99. I'm not sure what the 99 cents buys me since I can already use the mobile newsok site via my phones web browser.

You're right - it's worthless. It's the same as the iOS version and it's just basic plain text stuff that's exactly the same content as the mobile site.

On the other hand, I can't say enough about their iPad app. It's looks very, very print-like. Take a look (just pay attention to the actual product on the iPad and not the silly acting):

k1NQ8y6OU7I

OK first off, the analogy to the movies isn't accurate. Apples and Oranges man. There are far too many resources online with much much much better journalism than the Jokelahoman. If I want to go check out Reuters, the AP, European agencies, etc. there are countless free resources. In fact, when I come into work each day, I read The Register (based in the UK) online. It's related to my field and helps keep me up to date on things. In fact, most periodicals in the computer industry have moved online and don't even offer their free print items anymore. That's right, they MAILED free subscriptions.

You cannot tell me that a newspaper can't make the online version work for them without paying a subscription either. If they couldn't, then things like Facebook and Google would not be the media empires they are now....all without charging their customers anything. It's ad-revenue folks. If your product isn't good enough to have you survive on what that service is producing, then you shouldn't be around anyway. I can't say I would feel any sense of loss if the Daily Dissapoitnment went away for good. The masses, in general, will not pay for a service that was once free.

It's all personal preference and more immediate gratification. How is it not accurate? Why pay for something (entertainment) when there are plenty other forms of entertainment that are "free"? Just as there are plenty of entertainment choices that are free that are at least as good as what you are paying for in the theater (and often have to sit through commercials there too). In the case of movies and books, the more immediate comes thru paying full price for it, rather than waiting until it hits the rental, or free tv. Same with libraries. They probably don't have the newest books the day the are released. Probably wait until they get best seller status and their patrons request those materials (periodicals may be the exception). Right now I subscribe to the paper AND view the content on-line. Each has its pros/cons.

Except a movie doesn't become less "current" if you watch it the day it comes out or a year later. The news is a point in time item. If you don't get it today, it's old and out of date. You can't rely on a paper from a week ago to tell you what happened today. The story might get spoiled for you in a movie by knowing what's going to happen, but the news doesn't operate that way.