By James Thompson in The Independent
Tuesday, 29 September 2009
Borders UK has confirmed it plans to remove the Books Etc and Borders Express brands from the high street. The bookseller – which in July completed a management buyout backed by the retail restructuring specialist Hilco – is trying to sell its remaining seven Books Etc shops and two smaller format Borders Express stores.
But the bookseller was rescued at the 11th hour by Hilco's investment arm Valco Capital Partners in a management buyout led by Philip Downer, the chief executive of Borders UK.