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Is Waterstone's going bust? If so will that be so bad for bookselling in the UK?

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Waterstone's is ina financial crisis, but is up for sale, with plenty of people interested, though no-one coming up with the asking price. As to whether it would be a bad thing, in the long run probably not, but it will take time for any vacuum left by Waterstone's demise to fill up, which could hurt publishers badly.