Borders UK has stopped taking orders from its website as the future of the books retailer hangs in the balance.
Shoppers seeking to buy products from its website, Borders.co.uk, today are shown an error message saying “Sorry, title cannot be purchased” on any item clicked on.
Sources have said Borders UK is worried it does not have enough money to trade through Christmas. It is understood that Borders UK is being advised by BDO Stoy Hayward on several alternatives to a sale, one of which would be placing the chain into administration. It is thought the chain has been seeking to offload some of its stores in a bid to raise cash.
In July Borders chief executive Philip Downer bought the business, backed by Valco, the private equity arm of restructuring specialist Hilco.
Clearwater Corporate Finance is acting as an adviser to Valco in the sale of Borders UK.