The majority stake in book retailing chain Waterstones which operates from 283 stores has been sold by its owner Alexander Mamut’s Lynwood Investments to Elliott Advisors. CEO James Daunt is to retain his position along with the business’ management team, with Paul Best who is head of private equity at Elliott saying that the firm would support James Daunt and his team over the long term. Daunt confirmed that there would be no closures or job cuts but that, instead, there will be additional stores opening in towns which don’t have bookshops.
Share