Borders to close the books?
British bookseller Borders UK is likely to be the latest high-profile victim of the economic downturn, after administrators were called in on Thursday. The 45-store company has faced crippling competition from supermarkets and online booksellers over the last year, and according to reports has been battling to raise enough cash to trade through the Christmas period. The administrators have said all Borders stores will remain open while it searches for a buyer. The business, which employs 1,150 people, is so far up-to-date on staff remuneration, but failure to secure a buyer in the short-term would certainly result in wide retrenchments. Read more: BBC
Become an Insider