Borders UK set to pull out of BAA’s airports
By Tom Braithwaite and Daniel Thomas writing iun the FT
January 31 2009

Borders UK, the books chain owned by Luke Johnson’s Risk Capital Partners, is to pull out of BAA’s airports in the latest example of the fraught negotiations between retailers and landlords.

The books chain was unable to agree a new rental deal with BAA, which is owned by Spain’s Ferrovial and runs London’s Heathrow, increasing WH Smith’s stranglehold on the market.

Borders UK – in common with other retailers – is also looking to leave some of its weaker performing stores among a portfolio of more than 50 outlets across the UK. It has already closed a number of stores under its Books etc fascia.
“We continue to work on right-sizing those elements of the portfolio that we have to deal with but more importantly driving sales and margins at our other stores,” said Philip Downer, chief executive of Borders UK.
Full piece at the FT online.