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Borders UK calls in Administrators
worldtraveller
Posts: 14,013 Forumite
Borders UK has gone into administration putting 1,150 jobs at risk, MCR, the insolvency and restructuring firm, confirmed today.
The bookseller has been poised to enter administration since last night as last-minute rescue talks faltered. However, BDO Stoy Hayward, the administrator Borders had placed on stand-by, turned out to be conflicted as it had worked with Borders US.
Borders, which has 45 stores including a handful that trade as Books Etc, has been struggling to secure sufficient cash to trade through Christmas.
MCR said the business continued to trade while a buyer is sought for all or some of the company’s stores.
Timesonline
The bookseller has been poised to enter administration since last night as last-minute rescue talks faltered. However, BDO Stoy Hayward, the administrator Borders had placed on stand-by, turned out to be conflicted as it had worked with Borders US.
Borders, which has 45 stores including a handful that trade as Books Etc, has been struggling to secure sufficient cash to trade through Christmas.
MCR said the business continued to trade while a buyer is sought for all or some of the company’s stores.
Timesonline
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
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Comments
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Sorry to hark on about the internet but books!!!!! I had to buy an expensive course book, close on £40. Looked on Amazon, got it delivered all in about £6, second hand. So second hand that whoever had it before didn`t even take the cd out of its pouch.0
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A shame as Borders are great stores to hang out, and buying books online is not the same as browsing for books.0
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Radiantsoul wrote: »A shame as Borders are great stores to hang out, and buying books online is not the same as browsing for books.
No but if you are after a particular title, Amazon is s good place to look. We have a Waterstones, that`s very good.0 -
I'd never heard of Borders before.
I don't buy books. Books take up space.
Books are nice to touch, but a pain to own.0 -
I love borders, it's always got a great selection of magazines and it was one of the first few bookstores that put in chairs so you can browse (read the books) before buying it.
The one in Oxford was particularly delightful0 -
Sorry to hark on about the internet but books!!!!! I had to buy an expensive course book, close on £40. Looked on Amazon, got it delivered all in about £6, second hand. So second hand that whoever had it before didn`t even take the cd out of its pouch.
Hit the nail on the head.
Bookshops are nice to browse in but the prices are better on the internet.0 -
Books did seem to get dramamtically more expensive somewhere along the line. Did tax change..something in my mind is yelling that...
i bought a novel from new one day this week and hadn't looked at the price to the till. £12.99...I was ..amazed.
I think its sad, I'm guessing more books are bought at christmas than any other time of year? and book vouchers. Which might not have been able to have been honoured if this ust hung on through christmas. 0 -
Hit the nail on the head.
Bookshops are nice to browse in but the prices are better on the internet.
That is if you pay for them, it can't help that many books can be downloaded legally from the net :eek:
http://www.gutenberg.org/catalog/'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Hit the nail on the head.
Bookshops are nice to browse in but the prices are better on the internet.
That just about sums up a whole lot of things. It`s a no brainer.
Don`t need to go into the ins and outs about running a shop. Done that for a number of years and glad I don`t do it any more. Now it`s people running in waving a print out and asking will you sell for the same price.0 -
not surprised at all, they simply were not big enough to compete in the UK books market. WHSmiths must have had bigger book sales than them!
wernt they seperated from the US operation a few years ago?0
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