Waterstones’ Irish arm records €13m pre-tax loss

The Irish arm of bookseller Waterstones plunged further into the red last year after the company recorded impairment charges and store closure costs totalling €13.1 million.

Last year, two of Waterstones’ three Dublin stores were shut down with the loss of 46 jobs following a decision by its former parent, the HMV Group.

The British-based Waterstones group was acquired by a vehicle of Russian billionaire businessman Alexander Mamut, A&NN Capital Fund Management Ltd, from HMV for £53m (€63.2m) on a debt and cash-free basis last June.