"I can't see it operating as a standalone business," said influential City analyst Richard Ratner from Seymour Pierce. "W H Smith will only take them over for a decent price—and they will strip out the underperforming stores to cut costs."
But there is still confidence within Borders about the likelihood of a private equity funded management buyout led by Borders UK c.e.o. David Roche. Despite the speculation surrounding its future, the retailer has held on to its senior staff.