Diamond Book Distributors stop shipments to Borders

Diamond Book Distributors sent out an email this week to their clients and partners. Bill Schanes, Diamond's VP of  purchasing, said that Borders had suspended payments to Diamond, and the distributor was forced to suspend book shipments to the retail chain.Given that Diamond is only the latest to stop doing business with Borders, I'd say that that the vote of no confidence is pretty damning.

Borders are also supposed to be meeting with publishers right now to discuss shipments Borders haven't paid for. The rumor going around is that Borders will try to convince the publishers to turn the unpaid orders into interest bearing debt. I don't think that will work. My guess is that the publishers have heard about who is and is not shipping to Borders. They won't want to be left holding worthless debt when Borders go under so I bet most will shrug their shoulders and say no.

Can you blame them? Borders have been circling the drain for a while now. And if Borders can't come out of the Christmas season better than they went in, what chance do they have?

About Nate Hoffelder (11214 Articles)
Nate Hoffelder is the founder and editor of The Digital Reader:"I've been into reading ebooks since forever, but I only got my first ereader in July 2007. Everything quickly spiraled out of control from there. Before I started this blog in January 2010 I covered ebooks, ebook readers, and digital publishing for about 2 years as a part of MobileRead Forums. It's a great community, and being a member is a joy. But I thought I could make something out of how I covered the news for MobileRead, so I started this blog."

2 Comments on Diamond Book Distributors stop shipments to Borders

  1. In case your wondering what they distribute, their website is here http://www.diamondbookdistributors.com/

    Pretty interesting to see what happens in the next few months to Borders. Or should I say probably sad to see what happens.

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