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Global book chain Borders is facing similar ownership upheavals to its Metro neighbours SkyCity Cinemas.
Borders said yesterday accountancy firm KPMG would be releasing details in July outlining the sale of its Australasian assets. These include 20 stores in Australia, and four in New Zealand - increasing to five at the end of the year with a new outlet in Albany.
Borders is selling the chain on both sides of the Tasman as one operation and is expected to sell a licence to use the Borders brand. Another transtasman book company, A&R Whitcoulls Group, will be bidding for the Borders stores.
The company runs the A&R chain in Australia and Whitcoulls in New Zealand and is owned by Australian private equity firm Pacific Equity Partners. A source familiar with PEP plans said that Borders would be complementary to both and any bid would likely be from A&R Whitcoulls rather than PEP.
