US publishers looking beyond Borders as talks falter

US publishers looking beyond Borders as talks falter

<p>US publishers are now contemplating life without Borders, according to a report in Publishers Weekly, citing a lack of lack clarity at last week&#39;s meetings and an unwillingness to turn delayed payments into interest-bearing notes.</p><p>&quot;At last week&#39;s meetings with publishers, some of which included Bennett LeBow, Borders chairman and largest shareholder, it was clear that while publishers want Borders to survive, there are limits on how much support the major houses are able to provide. Borders&#39;s proposal to turn the delayed payments owed to publishers into interest-bearing notes met with a cool reception, and publishers were frustrated that Borders executives couldn&#39;t supply more information.&quot;</p><p><em>PW</em> estimates that Borders still had a marketshare of 8.5% in its third quarter, compared to 17.4% for Barnes &amp; Noble. For many publishers, Borders remains their third largest account behind B&amp;N and Amazon, and there is scepticism that any shortfall caused by the collapse of the chain would be made up by increased sales at B&amp;N or through independents.</p><p>At the end of the third quarter, Borders had 674 stores, down from 877 in the previous year. Whatever happens,<em> PW</em> notes, Borders will be selling fewer books due to a combination of store closings and carrying fewer titles in the stores that remain open.</p>