Everything Must Go
C. Wonder, the preppy apparel and accessories retailer launched last year by designer Tory Burch’s ex husband, Christopher Burch, has signed on for a space at Time Warner Center, according to sources familiar with the deal.
The store, which opened another Manhattan store last October in Soho, will take about half of the roughly 15,000 square feet formerly occupied by the now-defunct bookstore chain Borders on the retail complex’s second floor.
A former employee of Borders writes a tell-all about the experience as the bookstore chain goes under for good. He reserves his most potent derision for Borders’ decision to avoid building its business online:
In 2001, Borders would go on to partner with Amazon.com, allowing the online book retailer to handle their Read More
Borders is liquidating. The everything-must-go sales start on Friday. Read about it before it’s too late:
Borders Succumb to Digital Era in Books [WSJ]
Why Borders Failed and Barnes & Noble Survived [NPR]
What You Need to Know About Borders Closing [Chicago Sun-Times]
Books Without Borders [New Read More
Tales of Retail
Borders, the second-largest bookstore chain in America, only has 400 stores still open, but the deadline for bids in an auction to keep it from liquidation passed yesterday evening with no takers. The end is near.
Excluding the airports, New York City only has two stores still open, at Columbus Circle and Penn Read More
Not only are three of New York’s eight Borders stores closing–news passed along after Borders’ anticipated filing of Chapter 11–but projections from the CoStar group foresee vacancy rates for nearby retailers to increase.
Basically, Borders has the flu, and now nearby stores can expect to catch a cold.
The CoStar projections see vacancy rates climbing Read More
Bill Ackman, investor in the prison-industrial complex and famous decrier of bond insurers, is now looking to up his influence in the world of bookselling. The head of Pershing Square Capital Management has said he’s willing to fund a $960 million buyout of Barnes & Noble by Borders. The Times reports: Read More
Senator Chuck Schumer is asking Arizona Governor Jan Brewer to wait on the state’s controversial immigration bill.
“I cannot agree more that urgent federal action is necessary this year to address our broken immigration system–which currently produces an unsustainable situation where thousands of people cross our southern border illegally each day. I fully appreciate that, Read More
Citing people familiar with the situation, The Wall Street Journal reports this morning that Barnes & Noble is not interested in making a bid for Borders, which put itself up for sale in the spring. Rumors that B&N was going to acquire the ankle-biting second-largest-bookstore-chain-in-the-country freaked out everyone in publishing for a minute Read More
We’re a little late this morning because Riva Froymovich, our trusty and talented Real Estate intern, had her last day yesterday, and, well, I hadn’t realized how labor-intensive these morning-read entries are.
Anyway, here’s what we’ve been reading on the Web this morning: Charlie Bagli’s take on the latest Silverstein/Ground Zero developments. (The Read More
John Kerry emerged from the Democratic National Convention in Boston with virtually zero bounce in the polls -maybe it’s time to drop-kick that nincompoop Ben Affleck off the campaign bus, Teresa …. Meanwhile, New York’s own political agitator, the meek but fierce Moby , pops up on the roof of 60 Thompson Read More