November 26, 2009 / 7:01 AM / 8 years ago

CORRECTED - UK bookseller Borders mulling administration

1 Min Read

(Corrects first two paragraphs and headline to make clear Borders has filed notice of intention to appoint an administrator but has not done so yet)

LONDON, Nov 26 (Reuters) - Bookseller Borders UK is considering calling in administrators after becoming the latest British high street victim of recession.

Late on Wednesday Borders filed court documents giving notice that it intended to appoint BDO LLP as administrator. The firm is owned by Valco Capital Partners, the private equity arm of restructuring specialist Hilco.

Borders, which trades from 45 stores, has been struggling to raise enough cash to trade through the key Christmas period, according to newspaper reports.

It has faced intense competition from internet players and supermarkets.

Administration would put over 1,000 jobs at risk. (Reporting by James Davey and Sinead Cruise; editing by Paul Sandle)

james.davey@thomsonreuters.com; +44 20 7542 7674; Reuters Messaging: james.davey.thomsonreuters.com@reuters.net

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