Borders U.K. CEO Philip Downer has said he is "addressing" concerns raised by auditors Ernst & Young, after they expressed doubt about the retailer's ability to continue trading.

Downer was speaking after the retailer's latest set of accounts were filed at Companies House for the year up to Feb. 2, 2008. Specifically talking about the period covered by the accounts, auditor Ernst & Young drew a series of concerns about Borders U.K.'s long-term ability to trade.

In a statement, Philip Downer said: "Their list of concerns. . . are indisputable, but are applicable to much of the book trade and indeed to a large part of the non-food, non-fashion retail sector at this time. We are of course addressing all of them as a part of normal business."