Borders pledges to help staff hit by the closure of five shops
Borders UK, the bookshop chain, is closing down five of its biggest stores including the Oxford Street, London branch, because of tough trading.
Philip Downer, chief executive, said yesterday that the group is selling the five to a fashion retailer because the leases were coming up for sale. The shops, including those in Swindon, St Albans and in retail parks near Dublin and Cardiff will close in August. Mr Downer said the group would do all it can to help staff who will lose their jobs.
Mr Downer confirmed that the group, bought by entrepreneur Luke Johnson two years ago for £20m, is working with Clearwater Corporate Finance to find new investment. "Trading is really tough but we are doing all the right things to cut back and save money where we can," he said. He would not comment on whether Clearwater had prepared an information memorandum for sale.
Geoffrey Macnab does not like the comedian's big screen debut
Look beyond the usual shows for the best festive telly
elephant appealThe first 23 lots in our charity auction have now gone. But there are 22 more still up for grabs
The battle for control of Stieg Larsson's £30m legacy
- 1 Sun will 'flip upside down' within weeks, says Nasa
- 2 Christmas comes early: Justin Bieber is 'retiring from music'
- 3 Iain Duncan Smith leaves Commons food banks debate early
- 4 Cycle death inquest: Boyfriend hugs driver of 32 tonne tipper truck that killed his girlfriend
- 5 Burglar steals video tapes of child abuse, hands them into police
- < Previous
- Next >
iJobs Money & Business
£Negotiable: Citifocus: High calibre individual with institutional client serv...
£120000 - £150000 per annum: Cornwallis Elt : Programme Manager, Strategy Lead...
£55000 - £120000 per annum: Pro-Recruitment Group: The Financial Services Tran...
£600 - £700 per day: Harrington Starr: Client based in West London is looking ...