"Retailer HMV Group is selling its Waterstone’s bookshop business to A&NN Capital Fund Management for £53 million... Waterstone’s sales had deteriorated due to weakness in the book market."
Personally, I suspect Waterstone's sales have dropped off because of poor choices in stock. Browse the shop these-days and I rarely find anything that appeals amidst a growing mountain of junk - cookery books, 'celebrity' biogs and TV-related trivia.
The Mind, Body & Spirit shelves groan with sickly-sweet 'angels' and the kind of introductions to Wicca which begin with "This is a cauldron. Mine has pink sparkles".
The Science-Fiction, Fantasy and Horror sections are ok if you want to read anything by someone you've already read most of the books by already. Hmm, or maybe that's because I read a lot...
Anyway, here's hoping Waterstone's new owners bring back variety and quality literature to their stores.