Yesterday Borders UK entered administration, appointing the insolvency and restructuring company MCR to handle the company's next actions--creating an uncertain future for 1,150 workers at 45 different stores.

The Times Online had this quote from joint administrator Phil Duffy about the UK-arm of the bookseller: "All stores remain open for business as normal while the administrators undertake a review of the company's affairs and seek a purchaser for all or some of the company's stores in which there has already been interest."

In July, the company underwent a management buyout, trying to secure a stronger future. If you want to read more, the BBC published a helpful article comparing US bankruptcy to UK administration. In another article about the company's woes, the Guardian bashed Borders' "sure-fire" model of box store bookselling.