LONDON (Reuters) - All 45 stores of British bookseller Borders UK will close next week after administrators failed to find a buyer for any part of the business “Therefore, regrettably 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 on Friday.
They added they were continuing to negotiate with a number of parties regarding a sale of the assets of the business.
Borders filed for administration last month after reportedly struggling to raise enough cash to trade through the key Christmas period.
The closure of the Borders UK stores comes just two months after First Quench, owners of the Threshers off-licence chain, went into administration.
Reporting by Victoria Bryan; Editing by Matt Scuffham