The Independent says “Borders UK is still trying to extricate itself from the fall out from the troubles of Landsbanki, the nationalized Icelandic bank” after “last Friday, a number of companies, particularly retailers, found they could not withdraw money from their Landsbanki accounts.” Chairman of the private equity firm that owns the bookseller Luke Johnson says that “We are never more than £3m to £4m drawn on our [continuing] credit facility” but “declined to comment on the other questions put to him.” Additionally, “Euler Hermes is understood to have scaled back its insurance cover for Borders UK in the summer, […]
