As speculation mounts over whether minority stakeholder Alexander Mamut will buy Waterstone’s, the chain’s parent company HMV warned investors this morning that it expects to violate banking covenants as a result of full-year profits falling below expectations. While HMV said it was in talks with lenders to amend its credit loan agreements, which remain available, chief executive Simon Fox admitted in a statement that “trading conditions remain tough, reflecting a difficult consumer environment as well as the changing markets in which we operate.” He added that HMV “is adapting quickly to respond to these external factors, and we are confident […]
