FINAL UPDATE–RIP BORDERS SINGAPORE
****Final Update***Due to the tenancy discrepancy/argument with the Landlord, Borders at Wheelock Place will close Aug 23– (ONLY–the other location will remain open). Source
***NEW UPDATE*** According to a more recent Asia One Report here, the rumor that Borders and Wheelock Place are having a rental/financial dispute of some kind seem to be true.
***Update*** According to this AsiaOne News Report, yesterday’s Border’s closure was a technical glitch.
My friend Kirsten posted earlier today on Facebook that she’d heard a rumor that Borders Singapore had closed.
Edited to add–This is relevant/surprising because Borders Singapore is NOT owned by the US Borders company and was not affected by the US Borders Chain Bankruptcy.
image borrowed from twitter here
I can report that I stopped by this evening. The store is dark, the shelves full of stock, and at either end a sign that says “This store is closed.”
I have no idea what’s happening. Their website still says
Borders Singapore Update – 22 February 2011
The Administrator of REDgroup Retail, Ferrier Hodgson partner Steve Sherman, has confirmed that Borders Singapore (Borders Pte Ltd) is not currently affected by the Voluntary Administration of its parent company, the Australia-based REDgroup Retail Pty Ltd.
Last week Ferrier Hodgson was appointed Voluntary Administrator of REDgroup Retail Pty Ltd, which owns and operates Angus & Robertson, Borders and Whitcoulls (NZ). Between the three brands they are the largest booksellers in Australia and New Zealand, with about 260 stores.
“The operations of Borders Singapore (Borders Pte Limited) is not impacted by the Voluntary Administration process of REDgroup Retail,” Mr Sherman said. “No formal appointment has taken place in relation to the Borders operations in Singapore. The Singapore company continues to operate under the direction of its senior management and directors.”
Please note that details about the administration will be posted on the Ferrier Hodgson website at: http://www.ferrierhodgson.com
It is unclear if this is a temporary or permanent closure, if they’re being sold, or what.
Apparently the aggressive re-branding campaign was a failure? (earlier post on borders re-branding here)
I’m stunned, honestly.
Also edited to add-further rumor is that Borders employees showed up at work yesterday to find themselves locked out by the building. I haven’t heard anything about the second Singapore location…I can only verify that the Wheelock Place Borders seems to be closed.