Every one of the 45 Borders UK stores will close today after the administrators in charge of the company could not locate buyers for the bookstores last week. Before entering administration, the company reportedly employed 1,150 workers.
Reuters broke the news late last week: “[R]egrettably all stores will formally cease to trade on 22 December 2009,’ administrators Philip Duffy, Geoff Bouchier and David Whitehouse of MCR said in a statement.”
At the end of November, Borders UK entered administration, appointing the insolvency and restructuring company MCR to handle the company’s next actions. Borders UK is not part of the US-based Borders Group. In July, Borders UK underwent a management buyout, trying to secure a stronger future.