UK - Valco acquires Risk's Borders
Valco Capital Partners, the private equity arm of restructuring specialist Hilco, has backed the management buyout of Risk Capital's ailing bookstore Borders.
The buyout, led by chief executive Philip Downer and finance director Mark Little, comes two months after Risk appointed Clearwater Corporate Finance to find a buyer for the company. The deal also follows the recent sale of five of Borders' store leases to retailer New Look.
Borders has struggled since Risk Capital acquired the business for £20m in 2007, as the market for bookshops has declined in the face of an increasing demand for online retailers. The company has a reported debt pile of just under £10m.
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