Hilco linked to HMV store acquisition

Ben Parfitt
Hilco linked to HMV store acquisition

The owner of HMV Canada is reportedly interested in acquiring some of the troubled chain’s UK stores.

The Financial Times reports, however, that Hilco has not yet been approached by administrators Deloitte.

The paper adds that as well as asking suppliers for a £300m bailout prior to falling into administration, HMV execs were also considering a company voluntary arrangement that would have resulted in the immediate closure of some stores

It was only a year ago that suppliers agreed to take a five per cent stake in the retailer to try and prevent its collapse.

“It has been a long time coming, but everyone has known that the writing was on the wall since the day someone first downloaded a digital song,” Conlumino MD Neil Saunders stated.

“People will be very sad to see it go because it is a very emotionally connected brand, which most of us have used and have a lot of resonance with. But the truth is it is just not a part of our purchasing habits as much as it used to be.” 

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Tags: Retail , HMV , uk , acquire , acquisition , stores , administration , hilco

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