Management Buyout Secures Borders UK Future

The not surprising news has broken late this afternoon that Borders UK has been sold in its entirety to a management led investment group headed by current Border’s Chief Executive, Philip Downer and Financial Director, Mark Little.
The management group will be funded by Valco Capital Partners and should go a long way to securing the short to medium term future of Borders. The terms of the deal will include an injection of capital. Just this week Borders was forced to sell the leases of five of its stores, two of them the flagship stores of Oxford St and Blanchardstown in Dublin. This is the second time in almost as many years Borders has changed ownership. Downer are cofirmed that he did not envisage further staff cuts in the short term.
Financial details of the deal have yet to be disclosed.

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