We’re definitely in flux. From Publishers Lunch:
Pasadena’s Vroman’s is “very sad to see Borders go, but we’re also excited for the future.” With a Borders closing “just a few blocks” away, they are offering a $20 Vroman’s gift card to “the first 200 people to bring their Borders Rewards Plus cards” in for exchange.
Madison, WI store A Room of One’s Own is trying to take pre-emptive action, asking customers to “pledge to buy at least five more books this year compared with last year.” Co-owner and manager Sandi Torkildson says they” will gauge the response to help decide whether to renew the lease in 18 months.” She adds, “It’s not that we’re in trouble. It’s just a reminder.”
And what’s up with Borders paying their people $855/hr? Maybe some of that money can go to the publishers whose money they’re holding:
A number of attorneys for creditors objected to portions of the loan agreement–particularly distressed that Borders had not submitted a detailed budget showing what it will do with that funding. At first Friedman argued that they wanted to keep the budget confidential. He eventually agreed that they would make if public, and indicated that it may simply not have been ready to present: “I have people who haven’t slept in 39 [billable] hours,” Friedman told the judge according to Bloomberg’s account. “This was the best we could do to get things done.” (Speaking of which, newly-named svp, restructuring Ken Hiltz will bill full-time at a rate of $855 an hour.)