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Casualties of a relentless retail climate, neither is expected to be replaced.
It said the retail climate remained "very tough" in the UK.
The company has had flat sales and lower net income in the increasingly competitive retail climate.
Borders was also hurt by a difficult retail climate during the recession and by other strategic decisions.
It is exposed to the weak retail climate and seems to struggle every time it gets near £10 (currently 975.5p).
Dickinson said: "With price deflation and offers aplenty, the current retail climate is great news for consumers.
Similar(14)
The retailing climate, he said, is "tough for everybody".
"Making a store where the product is singularly defined," as Chris Byrne, a toy industry consultant put it, is no small risk in today's retailing climate.
Mr. Sinn acknowledged a decline in the current state of the manufacturing and construction sectors, but said the wholesaling and retailing climate had improved.
The BRC-led project, A Better Retailing Climate was launched in 2008, reporting back annually, and committing businesses to sector-wide environmental ambitions.
The company, based in Bassett, Va., attributed the shortfall to the bankruptcies of two major customers, Heilig-Meyers and Montgomery Ward, and the weak furniture retailing climate.
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