Troubled Book Times in UK
By Eric Hill • Nov 24th, 2009 • Category: Editor's Picks, From the Interweb, In BriefMore trouble for Borders U.K.
By Steven W. Beattie
A BBC article reports that Borders U.K. has ceased taking online book orders and suggests that the company “does not have enough cash to last until Christmas.” The article caps a bad year for the beleaguered company, which operates 45 stores throughout the U.K.
Last December, Borders U.K. had its credit insurance cut off, in July CEO Philip Downer led a management buyout of the company, and earlier this month it reportedly jettisoned its Web team, after apparently investigating the possibility of outsourcing its website administration to an independent contractor. In addition to news that the website is no longer fulfilling orders, The Bookseller is reporting that one major distributor is refusing to ship to Borders and that W.H. Smith has backed away from an offer to purchase the company.
Read the original post at The Quill & Quire blog.
Eric Hill is the editor of branta.
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