Borders is making a comeback, sort of
If you still find yourself missing Borders, the now defunct bookstore chain that went bankrupt in 2011, you can either commiserate on Facebook or make a trip to Singapore. Choose the later and you'll once again be able to have the Borders experience that you thought was lost forever.
That's because Popular Holdings, a Singapore-based company has purchased the Borders brand and plans to open a new store next month, according to the Singaporean news outlet Today.
Why would anyone want to resurrect a Borders? It's not as though Singapore is immune to the difficult business climate faced by bookstores and brought on by e-books and online retailers. Today reports:
But despite the volatile environment, Mr Chou [Cheng Ngok, CEO of Popular Holdings] vowed to press on with the venture to fill a gap in the market with Borders’ lifestyle approach.
Plus, it didn't cost much to acquire the brand. Chou wasn't specific on the price but said it was between two and 200,000 Singaporean dollars (that's about US$1.57 to $157,000). And it's not like Borders in Singapore wasn't successful before the two stores went under with the rest of the company. In fact, one of the locations in Singapore was, at one time, the most profitable Borders outlet in the world based on sales per square feet.
Whether that success will continue two years later remains to be seen, but don't expect this to be the start of a Twinkie-like comeback.