Who owns hmv and waterstones

The retailing group has been struggling to hide financial difficulties, confirming to the city in March that it was "exploring strategic options" after a series of job cuts and the closure of HMV stores. Like-for-like sales at the book chain for the 12 months to the end of April were down Tim Waterstone, who founded the Waterstone's book chain in the s, was also believed to have been interested in buying the business back.

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Email address. Become a member of Campaign Get the very latest news and insight from Campaign with unrestricted access to campaignlive. In an ideal world one would not be closing shops. It may be that some prove irredeemable — the real question is: is there room on our high streets for stores and I believe there is. In another report from The Bookseller , the response from the industry to this announcement appear to be positive across the board.

HMV struggled to meet financial expectations this year, facing heavy competition from online and supermarket retailers of music, movies and books.

The terms of the deal, which is expected to complete in May, have not been disclosed, but Elliott is providing all the financing for the transaction, including the consideration and ongoing operational finance.

Mamut's Lynwood Investments will retain a minority stake, but the percentage of the business each will own has not been disclosed. Daunt's key leadership team will also remain in place at Waterstones following the deal. Our booksellers can be immensely proud to have proved through good, old-fashioned bookselling, the enduring appeal and worth of real bookshops. He told The Bookseller : "I am pleased the sale has taken place and I am pleased for Alexander Mamut, who took a huge risk in buying the company in I think it is positive to have a domestic owner.