Big news
From The Bookseller:
Borders UK and Ireland has been sold to Channel 4 chairman Luke Johnson’s Risk Capital Partners for a £10m up front cash payment plus an additional deferred £10m cash consideration. Borders Group will retain an equity interest of around 17% in the business
In time for the Christmas rush!
Eoin
Eoin, Does this not seem an overly cheap price to you?
I assume this does not include all the branches, as from what I gather , the cream of them were rumoured to be bought by other bookseller interests in the UK?
Must admit I quite like Borders, particularly in the US, although their sole(?) branch here in Ireland in Blanchardstown is very well laid out ( and well staffed- always a pleasant surprise these days!)
But still, 20 million? Sure that would barely get you a bijoux residence in leafy Ballsbridge these days…
It is cheap,
But Borders retain a 17% stake so they benefit from an up turn if one happens. I guess they were happy to get out.
I think they underestimated the difficulty of breaking the market.
I think Borders will do the trick her under new management. Expansion in Ireland would be very very nice!
Eoin
I love Borders. I love the way that books in there have more than the standard 3 months shelf life. And they sell poetry too, books and magazines. I daren’t go in at the moment as I can’t leave without buying something and I have no money.
I went to college with Luke Johnson. (Didn’t like him to be honest.)
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