Thursday, March 29, 2007

Borders looking to sell its UK business

Borders Group is thinking of selling its UK business which operates under the name of Books etc. The company has 71 stores and accounts for 70% of Borders' international business. Borders opened in the UK in 1998 when it purchased the Books etc chain, but it has been reporting losses of $500,000 due to a "challenging retail environment".

2 comments:

Rob said...

Hrm. Pity, I hate to see anything evil happen in the retail book business for some reason. Not sure why as publishing seems to really drive the market but the retailers put the face on it.

Shalini said...

Yes, it's sad to see so many bookstores closing in the past few years. Usually it has been the little homegrown ones, but if a Borders is finding it hard to survive, what hope to local mom-and-pop bookstores have?