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Well done, HMV - with the agreement of a sale of Waterstones, you've managed to offload the bit of your business that wasn't a total basket-case.
simon hayes budgen
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Waterstone's is a bit of a basket case unless the new owners have got lots of money to spend turning it round (they haven't). Book chains are going bust at a rate of knots the world over, for good reasons. Either half of the HMV/Waterstones business could have gone pop at any point and taken the other with it so it will be some relief for HMV, but not much. They are still doomed.
Waterstones might not have been out of the woods, but at least it had a strategy - and their new owner does have quite a lot of cash at his disposal...
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