In its second-largest acquisition, Amazon buys the company for $970 million.
Says Borders customers can opt not to receive marketing e-mail from Barnes & Noble.
Having earlier won the e-commerce assets of Borders Group Inc. at a bankruptcy auction, Barnes & Noble Inc. is wasting no time reaching out to the members of Borders’ loyalty program.
Barnes & Noble, No. 41 in the Internet Retailer Top 500 Guide, e-mailed a letter Friday from CEO William Lynch to the members of Borders’ customer rewards program, which at its peak included more than 40 million members. Borders (No. 200) filed for bankruptcy in February.
In the letter, Lynch told Borders’ loyalty club members he was sorry for the loss of their local Borders’ location and advised them that Barnes & Noble won Borders’ e-commerce assets and customer lists in a bankruptcy court auction in New York on Sept. 14.
The letter gave Borders’ loyalty club members the chance to opt out of receiving any more Barnes & Noble e-mail messages by Oct. 15.
The e-mail message was also meant to introduce Borders’ customers to Barnes & Noble’s e-commerce site, BN.com, as well as to Barnes & Noble’s network of 705 stores and Nook, its electronic book reader. “Our intent in buying the Borders’ customer list is simply to try to earn your business,” says Lynch. “The majority of our stores are within close proximity to former Borders store locations and for those that aren’t we offer our Nook device and our BN.com online book store.”
Barnes & Noble was the winning bidder in an auction for Border’s intellectual property. On Sept. 26, the U.S. Bankruptcy Court for the Southern District of New York approved Barnes & Noble’s bid of about $14 million to acquire the assets of Borders.com and its customer loyalty club list.
Now that the retailer has contacted former Borders’ customers, Barnes & Noble will officially shut down Borders.com on Oct. 14. Content posted on Borders.com also notes that Borders ceased to honor Borders gift cards for an online purchase on Sept. 27.