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Administrator sells Borders UK online
06.01.10 | Catherine Neilan
Books etc is to be revived, but only online after investment group The Capital Organisation bought Borders UK's online business and a database of more than 1m people for an undisclosed sum. The business comprises the Books etc brand and website.
The operation will be split between two divisions - Capital Ideas Retail Online (CIRO) and Capital Data - and will be run solely under the Books etc brand, meaning Borders UK online will effectively cease to exist.
CIRO is thought to be planning to merge the website with two other retail sites it already owns - goodmusic.co.uk and sellstudentstuff.com - selling books, CDs and DVDs. The new website is expected to be functional by 1st February.
Anthony Peters, spokesperson for The Capital Organisation Group, said: "This acquisition will enable us to develop both our online retail and our database businesses much faster. We are confident that the integration will provide synergies for both operations and will mean profitable growth for the group as a whole."
Borders UK closed its doors for last time on Christmas Eve, after administrator MCR failed to find a buyer for the whole business. Books etc founder Richard Joseph was among those turned down by the firm, despite making what he described as a "serious" offer for "a bunch of stores".