By Aimee Chanthadavong

The administrators Ferrier Hodgson of REDgroup Retail is looking for potential buyers of 103 Borders and Angus & Robertson bookstores.

In an advertisement in The Financial Review, Ferrier Hodgson indicated that it was looking for potential buyers, which can either be for the whole or part of the business.

Michael Cave, Ferrier Hodgson spokesperson, told RetailBiz that they need to be notified of any interest.

“The administrator is looking to keep his options open by seeking expression of interest as it may create another option for the creditors,” he said.

Interested parties will have until 16 March to contact the administrators.

REDgroup Retail was placed in administration last month. It has since closed 38 bookstores, resulting in 321 staff redundancies.