Waterstone’s might be up for sale

About a month ago I reported that Waterstone's, a UK bookstore chain, was in trouble because their parent company was in dire financial straights. I thought the parent company would wreck Waterstone's while trying to rescue themselves. It looks like I might be wrong.

Waterstone's might be up for sale.

HMV Group is reportedly holding talks to discuss  the possibility of selling Waterstone's to the Russian billionaire Alexander Mamut. HMV Group are looking for a buyer to raise funds to reduce debt and allow group chief executive Simon Fox to focus on the turnround plan at the music stores. Waterstone's founder Tim Waterstone is involved in the bid to sell the chain to Mamut. He's wanted to regain control of his creation for some time now, and he probably leapt at this chance.

via This is money

image by Kake Pugh

About Nate Hoffelder (11791 Articles)
Nate Hoffelder is the founder and editor of The Digital Reader:"I've been into reading ebooks since forever, but I only got my first ereader in July 2007. Everything quickly spiraled out of control from there. Before I started this blog in January 2010 I covered ebooks, ebook readers, and digital publishing for about 2 years as a part of MobileRead Forums. It's a great community, and being a member is a joy. But I thought I could make something out of how I covered the news for MobileRead, so I started this blog."

1 Comment on Waterstone’s might be up for sale

  1. Interesting tactic. I wonder if we’ll be seeing a news article in a year about HMV folding and Waterstone’s blooming.

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