Two stores close as €8.4m impairment charges put Waterstone’s Ireland in red

THE Irish arm of bookseller Waterstone’s plunged into the red last year after the company recorded impairment charges of €8.4 million.

Tomorrow, two of the three Waterstone’s stores in Dublin will close following a decision by its parent, the HMV Group, that will result in the loss of 46 jobs at those outlets with a number of staff having the option of redeployment.

However, accounts just filed to the Companies Office by Waterstone’s Booksellers Ireland Ltd show that the company paid €10m in dividends to its British- based parent during 2010.