Struggling Borders to Meet with Publishers

Struggling Borders to Meet with Publishers


http://www.nytimes.com/2011/01/04/business/media/04borders.html

The book chain Borders entered 2011 on an unsteady note, telling major publishers that it would delay payments owed to them, and stoking fears that it would not be able to recover from declining sales, the New York Times reported yesterday. On Monday, Borders executives said that they would discuss the company's plans with publishers at hastily arranged meetings in New York later this week. As digital books have risen in popularity, brick-and-mortar bookstores have appeared increasingly vulnerable, and many publishing executives believe their numbers will decrease in the coming years. For months, publishers have been especially worried about the health of Borders, which has suffered from losses in revenue for years and reported dismal third-quarter earnings in December. If the bookseller were to go out of business, publishers could lose tens of millions of dollars, miles of shelf space and the selling power of more than 675 retail stores.