.
| Hearsay: |
About $70M a year. That’s what the industry in the UK stands to lose because of the Borders imbroglio. And November’s sales, despite deep discounts (alternately: because of deep discounts??) don’t appear to have helped bolster anyone’s confidence.
Borders’ collapse could lead to more than £35m in sales permanently lost to the book trade, as around half its market share consisted of incremental trade.
An observer familiar with Borders said that of the chain’s 4% market share, around half might move away from the book trade forever if, as seems likely, the chain no longer trades in any form. Total book sales last year were £1.77bn meaning 2% is equivalent to £35.4m. While administrators MCR have been searching for a buyer for Borders, it appears highly unlikely another bookseller will purchase the entire 45-chain portfolio.
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