Borders Closes Doors on Last S'pore Outlet
 

Sep 26, 2011
CommercialGuru.com.sg


Bookstore chain Borders will be permanently closing its remaining Singapore outlet at Parkway Parade today, marking the end of the book retail giant in the country.

Its final closing down sale features a 70 percent discount off all stocks.

This development comes a month after its flagship bookstore in Wheelock Place closed permanently due to a rental dispute.

Tim Reid of Ferrier Hodgson, the judicial manager of Borders Pte Ltd, said Borders Singapore secured the rights to use the Borders brand and intellectual property rights through a brand licence agreement, which was secured when the Singapore, Australia and New Zealand operations were purchased from Borders USA.

Reid noted that Borders USA terminated the agreement last week, “giving 90 days' notice to Borders Singapore to cease all activities authorised through the licence agreement.”

“It is certainly very sad that such a well-recognised institution, that so many Singaporeans have been associated with, is closing its doors permanently,” he said.