Book Stores Suffer From The Rise In E-Readers
An increasingly rapid shift by Americans from pulp books to e-books is creating major financial issues for Borders books.
The company reported a larger than expected loss Thursday claiming a review had lowered the estimated value of its inventory should the chain have to liquidate. Borders executives say despite a potential liquidity problem in the first quarter of next year, vendors are still supportive and shipping inventory. Both Borders and its much larger rival, Barnes & Noble, are facing heavy competition from Amazon along with newer players in the electronic book area such as Apple and Google.