HMV closer to selling Waterstone's
Published 25/03/2011 | 11:02
The sale of bookseller Waterstone's moved a step closer today when embattled HMV confirmed it was exploring options for the chain.
The company, which owns 731 HMV, Waterstone's and Fopp stores, said no discussions were taking place about an offer for the whole group.
HMV is reported to be considering selling the book chain after lenders said it needed to raise £75m in return for a relaxation of its lending covenants.
Potential buyers are rumoured to include founder Tim Waterstone and Russian billionaire investor Alexander Mamut.
HMV recently issued its second profit warning of the year as trading conditions failed to improve following its dismal Christmas season.