As predicted by the SnapShop Blog last week, Retail Week has today reported that book chain Borders UK has appointed MCR as administrator. The collapse affects some 1,150 employees.
Borders has been teetering on the brink of collapse since last week when sale talks with potential buyer WH Smith broke down.
Previously part of US Borders Group Inc, Borders is a books retailer with over 40 stores in the UK.
It was acquired by Risk Capital Partners, a Private Equity company, in September 2007, but was then put up for sale in June 2009. In July of the same year, a Management Buyout with backing from Valco Capital Partners was completed.
It is positioned in the Middle sector of the books market and operates out-of-town/non-high street formats as well as traditional high street stores.
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