HMV still looking for buyer for Waterstone’s

HMV is in talks with its banks following news that eight expressions of interest for its bookshop chain Waterstone’s were not near the £70m hoped for.

The DVD, music and books retail group has more than £130m of net debt and had hoped to raise £75m from the sales of Waterstones and its Canadian business. HMV is still considering all options, including a company voluntary arrangement (CVA) but it is thought its CEO, Simon Fox, is against it.