15 Feb '11, 3am

Borders Singapore not closing down operations here despite the company filing for bankruptcy in US

SINGAPORE - Borders Singapore is not closing down its operations here. Although The Wall Street Journal has reported that Borders Group is preparing to file for bankruptcy in the United States, book lovers need not fret because, since 2008, Borders stores in Singapore, as well as Australia and New Zealand, are owned by Redgroup Retail - an Australian book and stationery retailer - and not the US chain. "Our stores have no relationship or link with Borders stores in the US, other than a well-recognised global brand," said a Redgroup retail spokesperson in response to media queries, adding that Borders continues to be a "treasured brand in Australasia". The Journal reported over the weekend that the US chain has been finalising plans that could eliminate more than a third of its 674 stores. Its UK arm closed down at the end of 2009. Borders Singapore has two outlets, the fla...

Full article: http://www.todayonline.com/Singapore/EDC110215-0000188/Pa...

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