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Borders bookshops in New Zealand are up for sale as the US parent offloads its international stores.
The company said it would be concentrating on its US stores.
Up for sale are two superstores in New Zealand - one in Auckland's Queen St and a newly opened Wellington store - 14 in Australian and 36 in the UK.
It is not known whether the stores would close or continue to operate under new ownership.
Borders Group chief executive George Jones said it will be focusing on the US market to drive growth after announcing a fourth quarter loss last week.
"Our company's performance has fallen short in an industry that is increasingly competitive, technology driven and price sensitive," said Jones.
Jones said: "We've seen solid performance in our Asia Pacific stores and improving trends in the UK and Ireland.
"Still, for us to be successful in reaching the goals we have for the domestic superstore business, we must significantly reduce investment in the International segment and explore strategic alternatives."
KPMG Corporate Finance has been appointed to manage the sale of the New Zealand and Australian assets.
- NZHERALD STAFF
