Update on Waterstone's Closures - Twenty stores to shut

Waterstone's has confirmed that 20 stores will close over the next twelve months as part of cost-cutting measures across the wider HMV Group. Results published this morning (5th January), which showed Waterstone's performing better than sister chain HMV over Christmas, included the warning that full-year profits would be at the lower end of expectation, and that the group was close to breaking its loan agreements.

"We've nothing to say beyond that," the Waterstone's spokesperson said. The group comprises 312 Waterstone's outlets.