Wed, 14 Jul 2010 | MBO/MBI
US book retailer Borders is set to dispose of UK stationer Paperchase, having agreed a deal which will see it being bought by private equity firm Primary Capital for £20 million.
The management buyout deal is expected to be finalised within a week. A portion of the funds generated in the sale will be used to lessen Borders' debts.
Borders bought a controlling stake in Paperchase in 2004, and will continue selling Paperchase products in its stores after the sale.
Paperchase has 106 shops in Britain, including some concessions in department stores such as House of Fraser and Waterstones. Primary Capital envisages growth through new outlets, more domestic and international concessions, as well as expansion into unbroken markets.
The deal represents "another major step in strengthening our balance sheet", said Borders president Mike Edwards. The rise of online, low price booksellers such as Amazon has become a serious threat to Borders, which has also been hit by consumer caution in the recession.
Borders sold its UK chain in 2007, which then fell into administration in November 2009.
Bring to the market this leasehold specialist car sales and servicing facility located in Horncastle, Lincolnshire. The trade was established as a limited company in 2005.
LEASEHOLD
The company is an online vehicle purchasing platform, providing a fast, hassle-free car-selling service for the end user. A competitor to the likes of webuyanycar.com and Motorway, the company is a well-established online vehicle purchasing platform...
Bringing to the market this denim and casual wear retailer, boating a user friendly comprehensive online presence.
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