£694.05

In the scale of things, £694.05 is not a huge sum of money. This is the amount owed to Five Leaves by Borders/Books Etc following their Xmas closure. That's what they owe us for books taken, possibly even sold. We're not likely to get any of the money, nor any of the unsold books back. The people who are first in the queue for what the administrators managed to get for the assets (our assets) goes to the administrators, then - gosh, faint with surprise - the bankers. The Borders closure cost you money as well of course since Borders could not pay the statutory minimum redundancy pay so the taxpayer had to.
The blogs and The Bookseller in December and January were awash with concerns about the business practices that caused the closure. But what can you do? We have cut the expense account of the office cat and will make what everyone seems to call efficiency savings. But what we really want to do is burgle the house of Philip Downer, CEO of Borders, and take goods to the value of £694.05 because Borders certainly mugged us, and most other publishers too.

Hurry - final weeks!

Today's Guardian usefully sums up the disastrous state of bookselling today. On page 13 Waterstone's has taken out a big advert promoting Nigella Christmas for under a tenner, less than half price. For a penny under half price the main literary bookseller in the UK will sell you the Guinness Book of Records, and for the same low retail price you can buy a volume of letters to their younger selves by Rolf Harris, Jonathan Ross, the racist bigot Alan Carr and others of that ilk.

One page 19 WH Smith offer up to 75% off another bundle of useless books that is only redeemed by the presence of Andrew Marr's book on Modern Britain. The Guinness Book of Records is a tenner though - you can save a penny by sticking with Waterstone's.

Two pages on, Borders, in their last gasp, is offering up to 60% off their stock as they are closing down. I'd never noticed their mission statement printed next to their logo before - "Let's escape" it says. And they will, as fixtures and fittings are also up for sale.

Look again at the figures.... half price at Waterstone's, up to 75% off at Smiths, up to 60% off at a chain that is closing at Xmas.

Someone trying to tell us something here?

No Borders

The problem with Borders - see financial pages and book blogs everywhere - is that they just simply got it wrong in the UK. They thought this was America, and it isn't, yet, but rents are higher. Driving to a huge out of town bookshop was not for us. Now 45 shops and about 1,000 workers livelihoods are at risk as the company slips into administration.

Borders always bothered me, particularly since I got my hands on the Borders (USA) managers' manual for smashing unions. Some of the content was hilarious, along the lines of advising managers that if they saw workers who don't normally talk to one another speaking together, beware, they could be talking unions. Worry if managers are not invited to staff nights out - they could be talking unions. From 1996-1998 the independent union the Industrial Workers of the World started to get a toe-hold in Borders USA, which led to firings and a Boycott Borders campaign. Like so many US companies they come over as all hip (the Guardian made much of their appeal to the Friends' generation) but at heart they were an anti-union firm, keen to hire till jockeys for low wages, operating a central buying system.

Yet their bankruptcy is terrible news. Many smaller publishers can't get into Smiths, can't survive off the indies and Amazon alone, which give Waterstones immense power over certain types of books. If they use that power wisely we all gain, if badly, we are stuffed. Yet I imagine the biggest losers will be the big publishers who need volume and need - to some extent - to be able to play someone off against Waterstones.

And Borders had its strong points - it stocked, at times, a very good range of magazines, literary and political. This will impact on Central Books, the main mag distributor to shops (and our distributor). From time to time they got behind local books in a big way - the Dundee Borders ordered 100 copies of our The Lost Sister, even though the author works at Dundee Waterstones.

There is a welcome spread of good indies, and small chains and good indies may be the future, but meantime we are in for a tough ride.