4 Jun 2011

Last Borders stores in Australia to close

8:41 am on 4 June 2011

The last nine Borders book stores in Australia are to close next month.

The administrator of Borders' parent company, REDgroup, says no buyer could be found for the stores.

John Melluish, of Ferrier Hodgson said 315 employees will be affected by the closures, which will take place over the next six to eight weeks.

A previous round of closures of 16 stores was announced in April.

REDgroup, which also owns the Angus & Robertson bookstore chain, was put into the hands of the administrator on 17 February.

At a meeting on 3 March, creditors were told REDgroup owed at least $A118 million.

The ABC reports the final Borders stores - four in Melbourne, two in Queensland and one each in Canberra, Sydney and Perth - are expected to close on 17 July.

In New Zealand, 57 Whitcoulls stores and five Borders stores have been sold to the James Pascoe Group. Ten Whitcoulls airport bookstores have been sold to LS Travel Retail Pacific.