Borders to close 22nd Dec unless buyer emerges

<p>Borders will close its doors for the last time this Tuesday (22nd December), its administrator has confirmed, unless a buyer emerges. The widely expected decision was relayed to managers in a conference call held today (15th) at 4pm. </p><p>MCR said it was at &quot;advanced stages&quot; of negotiations with a number of parties about purchasing certain stores or assets. But it added that unless a business took Borders over as a going concern, &quot;regrettably all stores will formally cease trading the evening of the 22 December 2009&quot;. The final day of employment for the 1,150 Borders staff will be Christmas Eve.</p><p>Phil Duffy, partner at MCR, said: &quot;Staff consultation will continue throughout this week and a further update will be given for each store at the end of the week.We have reassured staff that they will be paid for all of their work during the administration.&quot; </p><p><a href="../news/106701-leak-shows-borders-administrator-may-have-buyer.html" target="_blank" title="http://www.thebookseller.com/news/106701-leak-shows-borders-administrato... today, a document leaked to <em>The Bookseller</em> suggested that a buyer had been found for 23 &quot;store assets&quot; of the chain, though the document stated that the &quot;balance [was] still to be decided&quot;</a>.</p><p>&nbsp;</p>