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

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. Their role is not to replace the Directors of the Company nor are the Administrators accountable for the management of the business prior to their appointment.

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 Joint 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.

Should you require any further information in the interim, please email borders@mcr.uk.com in the first instance.

By the Joint Administrators

23 December 2009.