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Restructuring group buys HMV debt, works on rescue

Restructuring group buys HMV debt, works on rescue

Restructuring specialist Hilco UK says it has acquired the debt of HMV from the retailer's lenders and is now working with administrators on efforts to rescue the music and games retailer.
Hilco, which already owns HMV Canada, said Tuesday that it believes there is "a viable underlying HMV business" in Britain. Hilco stressed that it had not bought the HMV business.
HMV admitted defeat on Jan 14 after more than 90 years, suspending trading in its shares and calling in Deloitte LLP to administer the business, which continues to operate.
HMV is the last big retail chain selling recorded music in Britain and employs more than 4,100 people working in 223 stores.
Hilco bought HMV's Canadian operation in 2011.


Updated : 2021-05-12 12:51 GMT+08:00