Borders continued the pruning of its balance sheet on Tuesday by closing on the sale of its businesses in Australia, New Zealand, and Singapore to A&R Whitcoulls, an Austalasian retailer of books and related products owned by private equity firm Pacific Equity Partners. 

Borders cleared $90 million from the deal, with the potential for up to another $14 million next spring depending on the achievement of performance targets. 

Our favorite quote on the matter was a joke in Rick Aristotle Munarriz’s column on Motley Fool:

What’s the difference between Borders Group and the cast of characters in ABC’s hit series Lost?

One was lost leaving Australia, and the other left Australia because it was lost.