17 Feb '11, 11pm

As Borders files for bankruptcy in the US and news of Borders SG's parent company having gone bust, what will happen

Borders, the second-largest US bookstore chain, filed for bankruptcy on Wednesday, the latest blow to an industry hard hit by competition from electronic readers and online booksellers. STAFF, customers and booksellers were taken aback on Thursday by news that Borders Singapore's Australian parent company, REDgroup Retail, had gone bust. The debt-laden company has been put into voluntary administration, which means it is working with an independent body to find solutions to pay its creditors. Reports in Australian papers said that it is business as usual for the company's book shops in Australia while the administrators review its finances. On Thursday, the Singapore management could not say what will happen to the local store. Ms Inge Wilhelm, executive general manager of Borders Singapore, declined to comment, saying: 'Give us 24 hours.' Borders pioneered the concept of ...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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US book chain Borders files for bankruptcy

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