Borders UK Goes Into Administration – Amazon Gets Stronger
The latest British victim of the credit crunch of Borders UK. Once a leading player in the high street books market, Borders has had a difficult time with increasing competition from the likes of Waterstones, and of course the ever growing popularity of Amazon
“All stores currently remain open for business as normal whilst the administrators undertake a review of the company’s affairs and seek a purchaser for all or some of the company’s stores in which there has already been interest.”
Borders was in talks with WH Smiths, discussing various merger options, however talks broke down last week. Borders were also talking to Waterstone’s owners HMV about a partnership.
On Monday this week Borders stopped all new orders on its website.
This is good news for Waterstones and WH Smith, as both are likely to see increase in sales running up to Christmas, plus Amazon will win some of Borders’ online sales.
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