Struggling bookseller Borders UK is in advanced talks with the private equity arm of turnaround specialist Hilco over a possible sale of the business.
Valco Capital Partners is in discussions to acquire all 46 stores, including Borders superstores, Books Etc and Borders Express fascias, from current owners Risk Capital Partners.
It is thought up to two other companies are also in separate discussions with Borders, according to The Independent, and that Boredrs’ main bank Landsbanki wants to achieve a deal within the coming weeks.
Valco is understood to have identified value in keeping the bookseller trading, and wants to keep on the existing management, including chief executive Philip Downer, although it is likely more stores will close.
The retailer sold off five of its biggest stores to New Look at the weekend, including its prominent store on Oxford Street, London.
In June Retail Week revealed that Borders appointed Clearwater Corporate Finance to oversee a potential sale of the business, after appointing RSM Bentley Jennison to review what value could be extracted from its stores in March.