Good News and Bad News for Book Lovers

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Pedestrians pass by a Borders book store with signs announcing that it will be cloing its doors, March 4, 2001 in Washington, DC.  Borders, the second-largest US bookstore chain, filed for bankruptcy on February, 16, the latest blow to an industry hard hit by competition from electronic readers and online booksellers. It planned to close around 30 percent of its over 640 stores in the US. AFP PHOTO/Mandel NGAN (Photo credit should read MANDEL NGAN/AFP/Getty Images)
Pedestrians pass by a Borders book store with signs announcing that it will be cloing its doors, March 4, 2001 in Washington, DC. Borders, the second-largest US bookstore chain, filed for bankruptcy on February, 16, the latest blow to an industry hard hit by competition from electronic readers and online booksellers. It planned to close around 30 percent of its over 640 stores in the US. AFP PHOTO/Mandel NGAN (Photo credit should read MANDEL NGAN/AFP/Getty Images) Photo: MANDEL NGAN/2011 AFP

First, the good news: You will be able to get lots of books on sale as soon as this weekend. The bad news: It's because Borders, after 40 years of business, has finally succumbed to liquidation. Ten thousand seven hundred people will lose their jobs (and a similar number of think pieces on the future of the book will be penned, at least one of which will probably be turned into a book). [AnnArbor.com]