Borders bookshop in administration concerns

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The Borders bookshop chain is holding emergency rescue talks as it attempts to find a buyer in a bid to secure its future.

It is believed WHSmith walked away from a takeover deal last Friday, amid hopes the high-street store could be saved from administration.

Waterstones owner HMV is also thought to be in discussions to buy the store following concerns from Borders it does will not have enough cash to see it through until Christmas, after increased competition saw sales dip.

The chain, which also owns Books Etc, was US owned, but the UK arm was bought in July by the private equity firm Valco.

Clearwater Corporate Finance is acting as an adviser to Valco in the sale of Borders UK.

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