Struggling HMV eyes sale of book store chain Waterstone's

 By Daily Mail Reporter -  20th March 2011

Waterstone's: Model and actress Lily Cole launched the Sony Reader at the book store chain

Struggling HMV could put its book store chain Waterstone's up for sale as part of turnaround plans to be revealed to its banks this week.

Chief executive Simon Fox is thought to be considering offloading the business after being told that he needs to raise £75million in return for a relaxation in lending terms.

Potential buyers for Waterstone's include founder Tim Waterstone, who may team up with Alexander Mamut, the Russian billionaire who owns a 6 per cent stake in HMV.

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