After filing for bankruptcy and failing to find a buyer, Borders will start liquidation. Currently the second-largest bookstore, employing 10,700 people, the company will close its remaining 399 stores. At its peak, Borders operated 1,000 stores and employed nearly 20,000 people. In the company's press release, Borders Group president Mike Edwards explained the decision: "We were all working hard towards a different outcome, but the headwinds we have been facing for quite some time, including the rapidly changing book industry, eReader revolution, and turbulent economy, have brought us to where we are now."
- Read Borders' full press release. How do you assess the company's statement? Is this an effective bad-news message?
- On an open blog for Borders employees, we can read about employees' frustrations. If you were the VP of communication for Borders, what if anything, would you do in response to these comments?