Borders (UK) Limited - Update

BORDERS (UK) LIMITED (IN ADMINISTRATION) ("THE COMPANY")

Philip Duffy, Geoff Bouchier and David Whitehouse of MCR were appointed Joint Administrators of Borders (UK) Limited ('the Company') on 26 November 2009.

A going concern sale of the Company's business and assets was not possible despite best endeavours. Accordingly, the Administrators ceased the operations of the business and all stores are now closed.

The Administrators will be making available their statutory report and proposals to all known creditors on or before 21 January 2010. This will provide an estimate of the financial position of the Company and the outcome for creditors.

The affairs, business and property of the Company are being managed by the Administrators, who act as agents of the Company and without personal liability. The role of the Administrator is to deal with the business and assets of the insolvent estate.

 A six month update report can be found here

GIFT CARDS AND TRADE CREDITORS

Customers who have not redeemed their gift cards should complete a proof of debt form and submit their claim which will then rank as an unsecured claim against the Company.

If you are a trade creditor of the Company then you will shortly be receiving the Joint Administrators' report and proposals which will contain a blank proof of debt form. If you wish to submit a proof of debt form in advance of this, please find the relevant link below.

A copy of the proof of debt form can be downloaded by clicking this link.

Should you have any questions in the interim, please email borders@mcr.uk.com