B&N Bankruptcy

[GoofyGolferGirl]

I just heard on the news that Barnes and Noble may declare bankruptcy as early as today! This is the first I've heard of this but I would be using all by Groupon coupons, not sure what the rule is with bankruptcy and using the coupons.

 

[sissy_ib]

I just heard on the news that Barnes and Noble may declare bankruptcy as early as today! This is the first I've heard of this but I would be using all by Groupon coupons, not sure what the rule is with bankruptcy and using the coupons.

I don't think there are any rules about using coupons with a company that has declared bankruptcy. And if they do file consumers probably wont even be affected/notice. Many large companies have filed for bankruptcy, restructured and are now doing fine.

 

[Scurvy]

I just heard on the news that Barnes and Noble may declare bankruptcy as early as today! This is the first I've heard of this but I would be using all by Groupon coupons, not sure what the rule is with bankruptcy and using the coupons.

I'm wondering if maybe if the person who said that on the news was confused. There has been quite a bit of talk the last few days that Borders would be declaring bankruptcy early this week. They are expected to close lots of stores and I know lots of people were rushing to use their gift certificates. It's true that Barnes and Noble is having financial issues, but I don't think they are expected to declare quite yet if at all.

 

[Kathi OD]

I just heard on the news that Barnes and Noble may declare bankruptcy as early as today! This is the first I've heard of this but I would be using all by Groupon coupons, not sure what the rule is with bankruptcy and using the coupons.

I think whoever was announcing the news made an error. There has been speculation for the past week or so that Borders, not B&N would be declaring bankruptcy either today or tomorrow.

B&N just had its best holiday season in ten years. For as much faith as you can put it it, B&N's Bankruptcy Index for Feb. 9, was 64.5 out of 100 (with 100 meaning nowhere near bankruptcy and 0 being definite bankruptcy).

 

[marlaine]

Our B & N closed down Jan. 31 after being here for over 10 years! Don't understand it. It was always crowded and I always saw people buying things!

 

[JB2K]

B&N just had its best holiday season in ten years. For as much faith as you can put it it, B&N's Bankruptcy Index for Feb. 9, was 64.5 out of 100 (with 100 meaning nowhere near bankruptcy and 0 being definite bankruptcy).

B&N also has an established online presence -- Borders never really did all that much online, which contributed to their failure to adapt to the market.

 

[Ava]

Our B & N closed down Jan. 31 after being here for over 10 years! Don't understand it. It was always crowded and I always saw people buying things!

Is there another B&N fairly close by? A few B&N stores in Manhattan closed last year, and they had all been there for many years. If there's another store in close enough proximity that it would absorb the shoppers from the closed location, it makes sense for a chain to close some stores to save on overhead.

 

[Melrosgirl]

Borders, not B&N.

 

[RitaE]

Barnes is scheduled to close down more physical stores and they just eliminated a large number of the Merchandising staff including several Executive positions- but their internet sales are going pretty strong and the Nook Color has sold very well in the last quarter.

The Wall Street Journal posted late last week that Borders will likely file for Bankruptcy either today or Tuesday.

 

[EKW]

A clerk at the local Borders tried to talk me into buying some sort of year membership when I was in there last month. She went on and on about how they'd been assured the company was fine, due to holiday sales. I tried to share my experience with Chuck E. Cheese in the early 80's. She was confident I was wrong about Borders. HM...wonder if this will change her mind?

 

[Desnik]

It's Borders, not B&N. Borders is/was suppose to declare today, or tomorrow. Supposedly B&N has been doing well and was trying to buy out Borders a few months ago.

 

[Kies99]

Everyone's correct in that it is Borders that is suppossed to declare this week.

However, B&N IS on the watch list for bankruptcy. More due to the publishing sector than anything else. "Hardcopy" books are starting to feel the pinch from ebooks as well as the plethora of other electronic entertainment options available.

 

[Melrosgirl]

A clerk at the local Borders tried to talk me into buying some sort of year membership when I was in there last month. She went on and on about how they'd been assured the company was fine, due to holiday sales. I tried to share my experience with Chuck E. Cheese in the early 80's. She was confident I was wrong about Borders. HM...wonder if this will change her mind?

They've been pushing the $20 upgrade for a few months. Even though I've known that the bankruptcy was just around the corner (dh keeps an eye on this for work), I decided to buy it anyway. They gave me a free coffee worth $5 and $10 credit right away on my card, plus some extra discounts, so I already got my money back.

They will still be around for probably another year even during the bankruptcy. If they survive it, even longer.

 

[cats mom]

They've been pushing the $20 upgrade for a few months. Even though I've known that the bankruptcy was just around the corner (dh keeps an eye on this for work), I decided to buy it anyway. They gave me a free coffee worth $5 and $10 credit right away on my card, plus some extra discounts, so I already got my money back.

They will still be around for probably another year even during the bankruptcy. If they survive it, even longer.

I guess there is poetic justice in one of the big chains that played a part in putting so many independant book sellers out of business, filing for bankruptcy themselves. I miss the little bookstore my DD's grew up with, but I certainly get no satisfaction in Borders' woes.

In fact the closest B&N to me is all the way across town, Borders is in a super convenient location close by, and I just like Borders better... so I bought the upgraded membership recently too. I was actually hoping my $10 would help them hang on a little longer.

As it turned out, the clerk had no idea what she was doing when she processed my membership, and my credit ended up being for the full $20. I tried to tell them it should have only been $10 when I went to use it, but they couldn't figure out how to apply only half of it, and I wasn't feeling generous enough not to use any of it... so I guess I wasn't much help after all.

I'd love to see Borders reorganize and come out of this, sadly I bet they don't though.

 

[Abbeys_mom]

Some times gift cards are considered liabilities, and if a store is in bankruptcy/reorganization, they can decide not to honor them. Sometimes the court decides they have to honor them, sometimes not. IIRC, Circuit City did honor them for a specified time. If you have one, I would use it sooner rather than later!