“…The continuing woes of the book industry were underscored today when the US retail chain Borders, which pulled out of Britain last year …
… said its losses had increased amid sharply falling revenues.
American book retailers, who have been struggling to compete with online rivals and supermarkets, now face the threat of digital books …
… which have begun to appeal to a wider audience.
In Britain the picture is little better, and investors have begun to put pressure on HMV to rid itself of Waterstone’s …
… the only remaining large high street book chain.
Borders said like-for-like sales at stores open for more than a year had dropped 6.8% in the second quarter.
It made losses of $46.7m (£30.2m), compared with the $45.6m loss recorded in the same quarter last year.
Revenue fell 12% to $526m.
US rival Barnes & Noble is also deep in the red … and reported losses of $62.5m for its fiscal first quarter, ending in July.
Borders arrived in Britain in 1998, promising to revolutionise book-buying … and opened a chain of 45 stores.
But by 2007 … the company admitted it was considering a sale of the UK division…”
go to source/story>>>Borders sees sharp fall in revenue | Business | The Guardian
