A group of creditors is arguing in bankruptcy court that the parent company of Davis-Kidd ought to probably pursue a liquidation rather than a bankruptcy reorganization.
The creditors take a pretty hard line: the book store chain, they say, is living on borrowed time.
Their stance involves some pretty crucial assumptions though. Namely, that the book industry is in an irreversible and uncontrollable decline.
Note those 2 adjectives I used. Maybe you think one or both of them apply to the book industry.
But I would like proof if anyone thinks they both apply. Because, so far, I don’t see it.
I’m keying in on the “uncontrollable” adjective, especially. I think the industry’s troubles are somewhat manageable, e-readers and the like notwithstanding.
Innovations like the Kindle and Nook are only exacerbating a more fundamental issue. And I think that issue is how book chains got too big, too fast, and loads of debt and sprawling footprints no longer make sense in this economy.
Those problems don’t have to signal the automatic death of the industry. They can be worked through.