Social book groups may be booming and consumers still hungry for everything from chick-lit to management tomes but the bookshop appears to have a shelf life. Borders books is moving to sell its international stores including 72 UK ones after reporting a fourth-quarter loss that echoes the poor sales others in the high street book trade are suffering.
With the challenge from online sellers such as Amazon, times are tough for bricks and mortar book sellers even for one that has attempted to pull in the punters with American style in-store cafes, events and extended opening hours. George Jones, Borders’ new chief executive concedes its performance had “fallen short in an industry that is increasingly competitive, technology driven and price-sensitive”.
The answer for Borders appears to be exploring strategic alternatives for the majority of its international segment and it will look toward its successful franchise model for future international expansion in new markets.
