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Tag Archives: hilco

HMV’s iconic Oxford Street store closes

The retailer’s flagship store closes its doors today for the last time after 30 years. HMV’s 150 Oxford Street store had been the world’s biggest music store, but new owner Hilco has opted to close the site in favour of a smaller location, which will be based at 363 Oxford …

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HMV Ireland could return

Hilco is in discussions with landlords about a possible return to Ireland for HMV. The Irish arm of the retailer was closed down in February and none of the Irish stores were included in the rescue package that saw the UK business survive on the UK High Street. Now The …

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Hilco to cut 400 HMV jobs – report

New HMV owner Hilco will cut a further 400 jobs at the entertainment retailer, according to reports. The Times says that Hilco is targeting a net saving of 7.8m from HMV’s payroll. An internal staff memo has suggested that store security guards will be dropped from nearly all stores other …

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HMV buyout nears as shops remove ‘closing down’ signs

Having seen fellow struggler Blockbuster rescued over the weekend, hopes are high that HMV will have similar good news very soon. A number of HMV stores – including Stockport, Manchester Market Street and Argyle Street according to tweets at the weekend – have been instructed to remove their ‘closing down …

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Asda in talks to acquire HMV – report

Forever dubbed the destroyer of the High Street, could the supermarkets be about to save one of the High Street’s most iconic brands? The Sun‘s chief business reporter claims this morning that Walmart-owned Asda has entered the bedding race for HMV. It is claimed that talks with administrator Deloitte have …

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HMV bank syndicate turned down offers higher than Hilco’s

Hilco’s bid for HMV’s debt was not the highest on the table, it has been claimed. The Telegraph reports that the eight-bank syndicate of lenders including RBS and Lloyds who are owed the bulk of HMV’s outstanding debt feared that their reputations would be tarnished were they to turn the …

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Hilco could close up to half of HMV stores

HMV now looks very likely to survive on the UK High Street – at a price. The Daily Mail reports that Hilco could close around half of HMV’s 223 UK stores in the hope that a streamlined version of the chain can live on. It’s the same strategy that the …

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Supermarkets to swoop for HMV stores?

Morrisons, Tesco and Sainsbury’s are reportedly eyeing HMV outlets as a potential way to expand their own store counts. Earlier this week, restructuring firm Hilco acquired 120m of HMV’s debt, giving it control of the company. However, reports suggest Hilco only wants half of HMV’s 230 stores, meaning up to …

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Hilco acquires HMV debt

The future of HMV on the UK High Street appears to have been saved. HMV Canada owner Hilco has acquired the chain’s debts, giving it control of the company. The Financial Times reports that the move to take control of the money owed to Lloyds and Royal Bank of Scotland …

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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, …

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