The sale of Borders UK is understood to be imminent, although the US retailer was silent on the issue as it posted second-quarter figures.
Entrepreneur Luke Johnson’s private equity business, Risk Capital Partners, is thought to be the front-runner to buy the chain, which has also been eyed by WHSmith. Ottakar’s founder James Heneage and Irish retailer Hughes & Hughes have both dropped out of the running.
The original sale timetable has run late, leading to speculation that Borders has attracted a lower-than-hoped-for price tag.
Borders’ international sales in the second quarter – including the UK – soared 31.2 per cent to US$169.9 million (£84.4 million), driven by record sales of the final Harry Potter novel.
Group sales rose 10.4 per cent to US$945.1 million (£469.3 million) in the three months
to August 4.
Borders chief executive George Jones said: “Progress is clearly being made as we execute our strategic plan and are beginning to see improved performance.”
* HMV-owned bookseller Waterstone’s has named Unipart as its supply chain partner to run warehousing and distribution for all stores and online.
Waterstone’s supply chain director Simon Blacklock said: “This is a very important step in the development of Waterstone’s supply chain. It will enable stores and more than 2,500 suppliers to communicate more efficiently and cost-effectively,
as well as being more environmentally sound.”
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