Will it affect the Singapore outlets?
If you have read the news on the recent bankruptcy protection filed by Borders and plans to close 200 stores, you might wonder if a similar situation will happen to the two mega bookstores located here in Singapore. Borders Singapore has since updated their about us page with a special announcement:
Since 2008 RedGroup Retail has been operating Borders stores in Australia, New Zealand and Singapore after acquiring stores in this region from the US bookstore chain Borders Inc. and gaining exclusive rights to use the Borders trademark.
REDgroup Retail is a local Australian private company which also operates the Angus & Robertson and Whitcoulls book chains. Borders stores in Australia, New Zealand and Singapore are 100% owned by REDgroup Retail and have no relationship or link with Borders stores in the US, other than a well recognised global brand.
Last update: 17 February 2011.
We also came across another updated report on Australia’s ABC website stating the REDGroup Retail went into voluntary administration:
On Wednesday, Borders book store in the US filed for bankruptcy. One day later REDGroup Retail – the owner of Angus and Robertson and Borders in Australia – went in voluntary administration. […]
Amazon and Book Depository have both succeeded in enabling the world to buy books online conveniently, how will retail bookstores around the world react to the Border’s bankruptcy filing? Have you already stop visiting bookstores and started buying and reading from popular ebook readers?
