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Business News

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.