Publishers are waiting for news on Borders U.K., as negotiations continue over a possible sale of the troubled chain.

A number of distributors have the retailer on stop, with the Random House-owned companies -- the Book Service and Grantham Book Services -- "still awaiting confirmation of when a payment will be made" after last week's deadline passed. The Financial Times today (Nov. 25) reports that "one person close to the company" said management was likely to appoint administrators before the end of the week.

Publishers told The Bookseller they were in the dark over the future of the business, while Borders' new PR Financial Dynamics is continuing to offer a "no comment" to media inquiries.

According to the FT, the person close to the company said that if Borders was placed in administration some stores would close immediately, while others would carry on for a few weeks to run off stock or to try to find a buyer. It also reported that Waterstone's parent HMV Group was still in discussions as of yesterday though was only interested in a small number of stores.

Borders U.K. has been the subject of speculation since last week when its adviser Clearwater placed a 'for sale' ad in the Financial Times. Retail Week reported that WH Smith had walked away from a deal.

Hachette-owned Littlehampton Book Services joined those distributors to have temporarily stopped trading with the bookseller. Gardners is also understood to have put a stop on the company, meaning it can no longer supply books from its Web site.