UK book chain 'in fight for survival'

British high street book chain Borders is holding emergency rescue talks as it fights to secure its future, it was reported today.

The group, which also includes the Books Etc brand, is said to be in discussions with firms including Waterstone’s parent HMV as fears mount it could be forced to call in administrators this week, according to The Daily Telegraph.

It is understood WH Smith walked away from a takeover deal on Friday, dashing hopes that it would secure a sale of the bulk of its store portfolio to the retailer.

Borders – bought in July under a private-equity backed management buyout – was thought to have been looking to offload 36 of 45 stores to WH Smith.