Borders Parkway Parade to close permanently

Borders bookstore issued a statement on Friday that its only remaining branch at Parkway Parade will be closing its doors for good on Sep 26 at 9pm.

A final 70 per cent discount closing down sale of all stock located in the store has commenced.

Borders Singapore has been given 90 days' notice from Sep 21 to cease all activities authorised through a Brand License Agreement that was secured by Australian, New Zealand and Singaporean Borders from Borders USA, who terminated the agreement on Wednesday.

Borders Singapore's lease on its Parkway Parade store expires at the end of October and the premises will be reinstated then.

The closing of the last Borders bookstore in Singapore does not come as a surprise - its flagship store at Wheelock Place closed last month due to "an administrative discrepancy in the cheque issued to the landlord".

"It is certainly very sad that such a well-recognised institution, that so many Singaporeans have been associated with, is closing its doors permanently," said Mr Tim Reids, judicial manager for Borders Singapore.

Mr Reids added that he will advise creditors, including gift card holders, how he proposes to deal with their claims.

According to him, there will not be a book sale to clear the "good amount of stock" and they are aiming to clear everything in the store by Monday.

He also told AsiaOne that approximately 70 staff members, including part-timers, will be affected by the closure.

"Finally, I would like to thank the customers of Borders who have, over the last several weeks, continued to support  the company.

I know that the staff have appreciated the frequent kind and encouraging words many customers have expressed to them. It is certainly a sad time," noted Mr Reids.