BGN Entrepreneur

Borders, the book chain, has closed after 12 years of trading, with the loss of 1100 jobs. At the group’s 45 Borders and Books Etc stores, customers had been picking over cut-price titles since MCR, the administrator, began a closing-down sale.
Borders went into administration in November after internet competition had put the business under pressure. MCR had been talking to would-be buyers for some stores, but it said on Friday that it had not been able to sell any part of the business as a going concern. The chain opened in Britain in 1997 and originally was owned by the American book group of the same name.
The UK and Ireland unit was sold to Risk Capital Partners, the buyout group led by Luke Johnson, the Channel 4 chairman, in 2007.

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