Chief executive James Daunt had defended decision to remain operating stores before temporary closures announced.
The buyout has been agreed for an undisclosed amount.
From the slick 'Yes' campaign that almost delivered a sensational victory in the Scottish independence referendum to the embarrassing spectacle of Ed Miliband's attempt to eat a bacon sandwich, 2014 has demonstrated the increasing importance of presenting the right image. But who were the biggest PR winners and losers of the year?
The question on everyone's lips since the #WaterstonesTexan, tourist David Willis, got stuck late at night in a central London
SEE ALSO: The Week In 20 Funny Pictures #WaterstonesTexan Tweets For Help From Inside Book Shop Naomi Campbell Tweets Congratulations
Mystery still surrounds the two hours that Texan tourist David Willis spent locked in Waterstones in Trafalgar Square. Though
Meet David Willis, from Dallas Texas. Last night, he basically got to live the dream, by getting locked in Waterstones, Trafalgar
Is she running or isn't she? Should she run or shouldn't she? And why has she travelled "across the pond" to bring Hard Choices to the fore on English soil? And why here, why now? These were the questions we pondered as we queued outside Waterstones' flagship store at Piccadilly, on a humid, warmish morning last Thursday...
How do you make programmes about books that people actually want to watch? And who - or what - should fill the gap left by the absence of books on mainstream TV? Macmillan clearly hope they've found the answer
Now seems the perfect time to look at the relationship between owls and literature, from the sweetly befuddled Wol in Winnie the Pooh to the flesh hungry killers of Titus Groan...