Evening Times: click here to return to our homepage
Book giant in threat to quit UK
 
BORDERS launched its flagship Buchanan St store in 1998. It also has another at The Forge
BORDERS launched its flagship Buchanan St store in 1998. It also has another at The Forge
 

BORDERS Bookshop today warned it may pull out of Britain.

The shock news, which threatens 2000 jobs across the UK, could see the sale of one of the most prestigious locations in Glasgow city centre.

US-based Borders took over the former Royal Bank of Scotland site at Buchanan Street and Royal Exchange Square in 1998. The prospect of the Glasgow store disappearing from the A-listed building is a massive blow to the city centre.

Borders also has a store in the Fort in Easterhouse and four others throughout Scotland. The two city stores employ more than 100 people.

The sell-off threat follows last month's announcement that Borders' overseas arm - 70% of which is concentrated in the UK - lost £254,000 in the year to February, against a profit of £6million the previous year.

The company said it was considering the sale of the 71-store UK division as part of a "strategic review" brought on by the "challenging retail environment".

Borders has become a major player in the book business, challenging established names like Waterstone's and Dillons.

HMV, which owns Waterstone's, recently issued its second profits warning since the start of the year and announced a rescue plan to try to boost flagging sales, which could see the closure of up to 30 Waterstone's outlets.

Publication date 22/03/07

Posted by: Jim, Glasgow on 5:12pm Thu 22 Mar 07
Borders need to consider dropping their prices. Why would i pay full price for a book that Amazon can deliver straight to my office by the next morning for half the price.
Posted by: Simon, Glasgow on 5:13pm Thu 22 Mar 07
Yet another retail company leaving the city centre! Thank God we're building another 'out-of-town' mall in the south-side to supplement Braehead, the Fort and the Forge.
Posted by: Jamie, Glasgow on 6:23pm Thu 22 Mar 07
Borders is a good all-round store but a rubbish bookstore. I'm sure that site would benefit if Waterstone's moved in. And let's not forget that Borders has treated staff pretty shoddily in the past (spying on them, for example). Sorry to anyone who fears for their job though.
Posted by: milton on 6:28pm Thu 22 Mar 07
Very true, Simon. It's over 15 ears since planning guidance reccommended that councils oppose large out-of-town retail parks and malls. Glasgow City Coulcil, however, seem to think that they can carry on regardless, without the slightest care.
They are utter morons - they can't even hang onto the ones they approve!
Posted by: Laura, London on 7:53pm Thu 22 Mar 07
If Borders doesn't retain its brand it will be a huge loss. The staff in store know so much more than Waterstones who are a load of spotty faced teenagers - just like at HMV. I reckon they'll put up a good fight!
Posted by: David Rozzelle, Fort Lauderdale Florida on 8:36pm Thu 22 Mar 07
The borders store in Buchanan street is one of the few things I miss about the UK. It's a unique place and while amazon might be cheaper, Borders has a pretty good selection and good prices.

It would be a real shame if glasgow loses this store.

Posted by: LJPR LEGAL JUDICIAL POLITICAL REFORMERS on 9:17pm Thu 22 Mar 07
More stores will follow suit as PEOPLE will not pay for the executives salaries who run multi nationals and who have been selling us hugely inflated items to cover their OVERHEAD costs.
The internet has allowed these MIDDLE MEN to be cut out of the equation and who used to cream off much of the price of a product that you can now buy without their added additions.

The world is transforming from one were the big boys ruled as bully boys to a more open and free market without their interference and cost.We are now ,thanks to the internet ,paying a more realistic price for goods that formally where kept grossly inflated thanks to trading cabals operated by multi nationals.

The writing is on the wall for all the board room bullies who will be losing their over inflated salaries as the internet transforms peoples purchasing options.
Posted by: milton on 9:19pm Thu 22 Mar 07
I've never taken to the store much. It's good for obscure magazines, but it's more expensive than most other shops.
e.g. I bought a graphic novel in Forbidden Planet (a few blocks further up the street) at Christmas, then saw it in Borders at 4 pounds more!
Also, Borders was largely responsible for that great Glasgow institution, John Smith's closing. John Smith's was a great bookshop, and it's branch on Byres Road had a fantastic music section.. now a *&%#ing Starbucks!! Grrr.
Posted by: Elizabeth Etheridge, Texas (Glasweigan) on 4:47am Fri 23 Mar 07
I am saddened by this news. I love Borders.

The real problem is that before we know it the whole world will be buying from the web and the web only. Why? because it's much cheaper to operate a web site than a store. People are buying everything from groceries to homes on the net. My question, what happens when the power goes out? Stores have huge overheads, as do the publishers, manufacturers, suppliers. Compared, the net stores have only warehousing and delivery. How many store clerks want to work for minimum wage? none. And why should they. it cost them the same to buy bread and milk as it does the top brass.

This store closing is going to be a huge loss for Glasgow and everywhere else they close.
And in case no one has noticed, most decent goods cost an arm and a leg now. How many can afford to buy anything without getting drowned in debt? In my humble opinion, a financial crash is coming soon. Frankly, I'm surprised it's not here yet.

Posted by: Elizabeth Etheridge, Texas (Glasweigan) on 4:53am Fri 23 Mar 07
You have all noticed that Amazon.com has brought all the stores under it's web? books, make-up, food, furniture, jewelry, electronics etc. So the big boys will still be raking it in. It'll just
be Joe public left out of work and whole streets of stores boarded-up. Yea, the internet is great.
Posted by: George Talbot, Hamilton on 9:28am Fri 23 Mar 07
Spot on Elizabeth! Bring on the ghost town. Something needs to be doen to protect the great British high street. What does the future hold? A nation of social inadequates sat crouching over their computers in darkened rooms? Very sad.
Posted by: Cafe-culture Vulture, glasgow on 10:10am Fri 23 Mar 07
When I was in Borders cafe the other day I noticed several people coming in with armsful of books taken from the shelves to browse while they enjoyed a latté. Some of these were expensive art books and in particular I watched two chaps thumb through these books, flattening out the pages, bending the spines etc. Why on earth would I then want to pay £30 for what has effectively become a second-hand book? I was also concerned about the fact that security seems very lax there - I did note that all the cafe browsers had large shoulder bags ... not that I am suggesting anything untoward, mind.
Posted by: Dave Smith, Glasgow on 12:07pm Fri 23 Mar 07
Goodbye Borders... Just another Us Company finding that the Uk Market is not as big a moneyspinner as they think it is.

Borders whilst being a good contribution to the booklover and magazine lover is just far too expensive so I really wont miss you.

Waterstones is no better, how on earth can they put out the same years calendars during August/September and expect them to sell even at a reduced price, bad management so no wonder theres problems.
Posted by: Stephen, Edinburgh on 12:32pm Fri 23 Mar 07
I think it will be a real shame if Borders decides to leave the uk. Although it is slightly more expensive to shop their than online, it is also a great place to spend a quiet sunday afternoon and escape the hussel of buchanan street. I do believe that it won't have much of an effect on Glasgow, no doubt there will be queues of shops wanting to occupy arguably one of the most prime retail spaces in the country.
Posted by: gary gibson, glasgow on 8:37pm Mon 26 Mar 07
Before Borders and all the big stores, everyone seemed reasonably happy with the small, often family-run bookstores that had served us up to that point. All that will happen is the big companies with an eye on profit over everything else will pull out, and we'll be back to what we had before - small, independent stores that won't be particularly cheap, but will be knowledgeable, will have a good number of books right there for you to browse, and it'll be like the old days all over again, but supplemented by the net. High-turnover book sales on the high street will more than likely take over the rest of the business that's going.
Posted by: Gary Gibson, glasgow on 8:40pm Mon 26 Mar 07
Sorry - that last line should have read:

High street stores such as WH Smith will more than likely take over the rest of the available impulse-purchase market.
Add your comment
Please note: to publish your comment you must be registered on this site. If you are already registered, please enter your details below.
Email:
Password:
Travel Shop
Airport Parking
Travel Insurance
Copyright © 2008 Newsquest (Herald & Times) Limited. All Rights Reserved
Terms of Use