Borders bookstore is back under Popular ownership, opens in Jurong by year-end
A new bookstore under the iconic Borders brand will open in Jurong by year-end. It will be operated by Popular Holdings, which is closing its flagship lifestyle bookstore Prologue in Ion Orchard.
Prologue will give up its current 10,000 sq ft bookstore and cafe space in the Orchard mall by Aug 25, said Popular Holdings group chief executive officer Chou Cheng Ngok, 76, at a press conference Wednesday morning.
He revealed that Prologue was bowing out due to rising overheads, especially rentals, and lower profit margins. "But we see Borders as different, it's an international brand, it has its following, it has its niche," he said.
The group acquired the Borders brand over a year ago. Mr Chou declined to confirm how much it cost, though Popular Holdings would have had to top a US$200,000 (S$254,644) bid by Malaysia's Berjaya Books, according to a 2011 report in industry magazine Publisher's Weekly.