Borders files for bankruptcy; Toronto's Kobo jumps out to reassure concerned customers

Posted by Knowlton Thomas

Borders, a major book retailer chain, has filed for bankruptcy. The news shouldn't come as a surprise to anyone who's been following their financial statements; nonetheless, it strikes a blow against the traditional print and book industry.

The first thought that my have come to mind following this news could be, "what about my Kobo?" After all, the two are closely linked: Kobo ran Borders' digital bookstore, and the two forged a partnership, albeit one favouring Kobo all the way (Borders never created its own e-reader like Barnes & Noble and Amazon, and even Sony).

E-book retailer Kobo, based out of Toronto, is reassuring its customers that their e-books are safe, and Kobos aren't going anywhere soon.

From an official blog post:

Borders announced that they were filing for bankruptcy protection under US law while they restructure their business. What does this mean for Kobo customers? Nothing. Kobo is an independent, financially secure company. . . . Your ebook library is perfectly safe. The Borders ebook experience is powered by Kobo, an entirely separate company from Borders. Kobo is financially secure and will continue to maintain your ebook library no matter what happens.

Kobo seems quite willing and ready to leave poor Borders in the dust as it looks to the future - which, more clearly than ever, starts with an "e' and a hyphen.

 

Company:
Amazon
Website:
http://www.amazon.com
Location:
Vancouver, British Columbia, Canada

Amazon.com, Inc. (NASDAQ:AMZN), a Fortune 500 company based in Seattle, opened on the World Wide Web in July 1995 and today offers Earth's Biggest Selection. Amazon.com, Inc., seeks to be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices. Amazon.com and other sellers offer millions of... more

Company:
Kobo, Inc.
Website:
http://www.kobobooks.com/
Location:
Toronto, Ontario, Canada

Kobo is a global eReading service backed by majority shareholder Indigo Books & Music, Borders Group, REDgroup Retail, and Cheung Kong Holdings. Kobo believes consumers should be able to read any book on any device. With a catalog of over two million eBooks, and an open platform, Kobo enables retailers, device manufacturers and mobile operators to bring the joy of eReading to customers everywhere. For more... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis, hiking, and exploring weird side streets. more




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