Borders UK to Close

Borders UK will close all 45 of its Borders and Books Etc stores on December 22, 2009, unless a buyer for the chain is found. The troubled company’s administrator, restructuring specialist MCR, said that while it is in “advanced stages of negotiations with a number of parties” about purchasing certain stores or assets, no deal has yet been made.

If the chain closes, 1,150 employees will lose their jobs on December 24, 2009. Borders UK stopped taking orders on its website on Monday, and a number of publishers have already stopped supplying the chain.

Additional information at The Independent and BBC news.