HMV sets out worst case scenario

Embattled retailer HMV has secretly warned that it could make as little as £3m in profits within two years. A report prepared by the music chain’s creditors show that, if it sells its Canadian arm and Waterstone’s, its core profitability could dramatically slip. The worst case scenario report sits in stark contrast to its £30m predicted profits this year. HMV is currently in talks with Russian billionaire Alexander Mamut over the sale of its Waterstone’s chain.