Boders Closes Down And Trashes Gift Vouchers | Anorak

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Boders Closes Down And Trashes Gift Vouchers

border-cardON the forums, AGW writes on how Borders closing its doors is bad news for anyone who bought one of the firm’s gift vouchers. It wasn’t a voucher – it was an investment, liable to go down in value. You are not a customer – you are an “unsecured creditor”.

YOU may have spotted the Internet and High Street books and the like trader Borders is in administration.

The Times said, on Novemeber 26, the move:

“Puts 1,150 jobs at risk, MCR, the insolvency and restructuring firm, confirmed. Borders, which has 45 stores including a handful that trade as Books Etc, has been struggling to raise cash to trade through Christmas.”

Very nice. But that beautifully-worded press release re-hash misses the important point…the customer. It turns out the Administrator may be on to a very good thing at this time of year. Thousands upon thousands of forward thinkers have bought Borders Gift Vouchers to hand out as Christmas presents.

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Posted: 1st, December 2009 | In: Money | Comment