Its Parkway Parade branch, however, remains open.
According to Channel NewsAsia, an error was found in the cheque issued to Borders' landlord, Wheelock Properties, causing the latter to take over the retail space.
"The rent cheque for
August was not paid in the beginning of the month. And when the cheque
was issued, initially there were some errors in the cheque - the amount
and words did not reflect the amount and digits, and there was a need
for a new cheque to be issued," said Tim Reid, interim judicial manager of Borders.
Wheelock Properties then requested for a cashier's order but the cashier's order was not delivered within the specified timeline.
Reid told the broadcaster that as far as he knows, Borders does not have a history of late payment for its rent.
AsiaOne reported that although a cashier's order was later drawn, Wheelock Properties, having re-entered the premises, did not want to reverse its actions.
Reid said the company is now focussed on removing its stock by 23 August, when its tenancy at the Orchard Road shopping mall ends. It will hold a book sale to clear its stock.
He added he might seek a buyer for the Singapore company.
Borders at Wheelock Place was first found closed on 16 August, leaving many customers confused as to what had happened to the store.
The staff then assured customers that there was technical glitch with the shutter and business would resume the next day.
Borders has said that the recent closures of stores in Australia and US after the filing of bankruptcy protection are not linked to the incident here in Singapore.