The Changing Face of the Book Store

Anyone in the book business, either as an author, editor, seller, or reviewer, is well aware that the industry has been facing a rapid shake up in the past few years. The newest change has been one that has been one that affects the Book Store chain, Borders.

According to an announcement on Friday September 21st, the group has agreed to sell it's United Kingdom and Ireland subsidiaries to a private equity firm, Risk Capitol Partners for up to $40 million. But just what will this mean long term for Borders?

The nations second largest bookseller issued the following statement:

"The sale of our U.K. and Ireland subsidiaries is a major step forward in
our previously announced strategic plan to drive a turnaround of Borders,"
George Jones, Borders' chief executive, said in a statement.

"This sale allows us to focus investment and resources on our core business,
which is the U.S. superstore segment."

London-based Risk Capital Partners has set up a subsidiary called Bookshop
Acquisitions Ltd. for the purchase. The Borders U.K. and Ireland management
team will continue to be led by David Roche, who will serve as CEO of the
new company. But just what this will mean, long term, for the company and the brick and mortar book stores as a whole, is still up in the air.

Many people no longer buy their books from traditional brick and mortar stores, preferring instead to shop online via Amazon.com and other online outlets. But it's not just the way books are sold that is slowly changing, but the way we are reading books in the first place.

E-books and downloaded audio books are slowly becoming more popular with online stores such as fictionwise drawing thousands of customers daily. So will there come a time when the traditional book store will cease to exist?

I, for one, hope not. I enjoy e-books, but I also use going to the book store with my children as a treat for them. Or a trip there with friends as a get away moment for me. there is still something wonderful, to me, about opening a physical book. I don't think I'll ever lose that entirely. Unfortunately it's become all too clear that the traditional stores will have to continue to rethink their business plans if they are to survive the slow but steady change in how people now buy and even read books.