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Business News Retail
Speculation galore about Borders sale
By CMU Editorial | Published on Thursday 16 July 2009
The current owners of books and CD seller Borders UK have refused to comment on newspaper reports that they are in “advanced talks” with a private equity firm called Valco regarding the sale of their retail chain.
The Independent claims Valco, a division of Hilco, who were busy trying to buy Woolworths prior to that retail chain’s collapse, are really keen to acquire Borders and all its spin offs with a view to keeping the retail chain operating as going concern. Which would be nice. Other private equity types are also said to be interested in the UK Borders business, which was spun off from is US parent in 2007, though their intent for the business is not known.
It’s been known Borders UK was essentially up for sale for a while now, though speculation about the future of the retailer has grown following confirmation earlier this week that five of its shops, including its flagship London Oxford Street store, would be closed down, with their units sold off to a fashion retailer.
