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

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.