Borders Books on the Brink
Disaster looms for Borders the book store after it lodged a notice of intent to appoint administrators on Monday. The company runs 45 stores in the UK employing about 1,100 people but is understood to be struggling. Attempts at a rescue deal with various parties have not yet materialised and, in a new twist, the appointment of administrators has now gone awry. BDO Stoy Hayward were expected to be appointed as administrators later today, but it is understood that “a …
Disaster looms for Borders the book store after it lodged a notice of intent to appoint administrators on Monday. The company runs 45 stores in the UK employing about 1,100 people but is understood to be struggling.
Attempts at a rescue deal with various parties have not yet materialised and, in a new twist, the appointment of administrators has now gone awry. BDO Stoy Hayward were expected to be appointed as administrators later today, but it is understood that “a conflict” meant it could not take on the task of rescuing the company. According to the Guardian, a spokeswoman for BDO refused to say what the conflict was, adding that it had “robust and thorough processes” to assess the risk of taking on such work.
The company’s book ordering has apparently been frozen.
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