It is thought that the chain has held talks with rivals in recent days about a takeover. However reports suggest that chains such as Waterstone's and WH Smith might only be interested in buying some stores rather than rescuing Borders as a whole.
The freezing of the company's web operations in what is traditionally the busiest trading period of the year has added to fears that the company does not have enough cash to trade through Christmas, claims the Daily Telegraph.
According to the newpaper, Borders claims that the site was down because it was ‘going through maintenance'.
Borders has already started closing down sales in six of its Books Etc stores and two Borders Express stores.
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