Well we are almost in the new fiscal year and there doesn’t seem to be a ton of store closings. Has Follett rode the wave and come out the other side scarred but still intact? Time will tell....
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There was a class action suit against Follett, B&N, Pearson, Cengage & MGH last year.
I wonder whatever happened to it.
Access is the new worse brand name for IncludEd.
It is not the profit machine the tower makes you think it is and will do nothing to stem the collapse. 100 locations in this fiscal was just the tip of the iceberg. McH is the only money marker in the whole place. The rest just s—s up borrowed resources.
Based on the post directly below from @1rdh+1a2wEiZz can I get some clarification on ACCESS? I left Follett before ACCESS became a thing. I was around when includED was a thing but when I asked my SM about it she literally told me that our client consistently refuses to hear about includED so there's no need for you to know about it (seriously, I was told that).
Is ACCESS Follett's Inclusive Access model? If so, is there not an opt out option for students when they register? I believe by law there has to be an opt out option (prior to the school's census date). If what @1rdh+1a2wEiZz is saying is true then not only should someone sue Follett but also the school for allowing it to happen. Secondly, are course materials for ACCESS all digital or are they physical books? I thought I had read a post sometime back about a school trying ACCESS for a semester and then dropped it because the bookstore didn't have enough books on hand for the class.
Access is a great program for Follett. It locks the students into buying books from Follett and limits the competition from other local bookstores and online competition. Schools are in bed with Follett on this because commissions are based sales so anything to maximize sales. You would think that schools put their students first but they don't. Someone should sue Follett for anti competitive behaviors.
FedupFred did they give you severance? Sorry to hear that happened but better things are hopefully on the way. I’m worried about that happening to me. My college has not accepted Access yet either.
Our store is closing.
Follett aggressively pushed the school to adopt ACCESS. The school declined.
Arrivederci, Follett.
gik+1a2wEiZz is correct. The retail model that sustained the business for decades is no longer relevant. What we have experienced since 2013 has been a consequence of the failure to adapt to the new reality. Expect more of the same.
Not a lot of stores are closing but if it happens to be yours I bet it s—s. I don't think they have weathered anything. The retail model of the college bookstore has been forever changed with COVID. It was always coming, the virus just pushed it along. Follett will try hard to stay relevant
and they are going to do it on the backs of a really lean work force. If anyone thinks for a minute that there will be hours for staff you have officially swigged the koolaid.
Wait until after all the meetings with the BU's by TL and BF and we'll see what the new fiscal year holds in store for us to make the Follett Family stock worth more!