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Thursday, 26 November 2009

MCR announced as Borders Administrators late 26th November

So my blog yesterday was part right, administrators were appointed today for Borders. But slight surprise - MCR administrators were appointed.

Watch out for a bun fight over "sale and return" between the administrators/buyers and publishers. The book trade works on that principle.

So a test of retention of title, ownership of stock, and "cash is king" for Phil Duffy and his joint administrator(s). Sorry don't know yet who the MCR appointees are.

One year on from Woolworths another retailer fails. Is it cynical me, or are we going to see many more retailers collapse in the next 12-15 weeks?

Hilco, Valco and similar will be busy on their next deals I am sure.

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