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Borders to close all 45 UK shops

The Borders bookshop chain will close all its UK branches tomorrow after administrators failed to find a white knight to produce a rescue package. Borders, which struggled in the face of rising competition from online retailers and supermarkets, will make 1,150 people from 45 outlets redundant. MCR, which is unwinding the business, said: “The joint administrators have been pursuing a sale of the business. However, it has not been possible to agree a sale of any part of the business as a going concern.”