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Borders looks to deal before autumn

23.08.07 Graeme Neill

Borders is believed to be keen to clarify the future of its UK and Ireland business before the main autumn selling season begins. The summer lull has seen suitors scrutinise the finances of the company, with W H Smith gaining increasing currency as a potential buyer if the price drops below £25m.

"I can't see it operating as a standalone business," said influential City analyst Richard Ratner from Seymour Pierce. "W H Smith will only take them over for a decent price—and they will strip out the underperforming stores to cut costs."

But there is still confidence within Borders about the likelihood of a private equity funded management buyout led by Borders UK c.e.o. David Roche. Despite the speculation surrounding its future, the retailer has held on to its senior staff.

Borders Graeme Neill

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By john farrow

its a sad fact that 20years has seen the sad decline of the great stockholding bookshops of britain to nothing more than paperback and top sellers bookshops that are no better than smiths were at that time. the likes of borders waterstones etc have pverseen the destruction of generations of work and good accounting by letting financial vultures and short term profit suceed

23 Aug 07 14:37

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