Thursday, November 26, 2009

Borders teeters

Tragic news for the UK book industry as Borders looks set to dive into administration.

Its 45 stores employing 1100 people are at risk after it seems about to appoint BDO Stoy Hayward as administrator today.

As with many other book stores the company has been hit by the internet and competition from the supermarkets.

Its current owners Valco have tried to do a deal with WH Smith but that has reportedly faltered and HMV, the owner of Waterstone’s, is also believed to have been involved in discussions.

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