Equity firm buys HMV's debt

A Canadian private equity firm has bought the debt of struggling music retailer HMV.

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Administrator: 'HMV is an iconic retailer'

HMV is an iconic retailer and continues to be a very popular brand, but as we have seen with many high street retailers, the market is changing rapidly and conditions are currently very tough.

Following our appointment, we are working closely with management and staff to stabilise the business in order to continue trading whilst actively seeking a purchaser for the business and assets.

We appreciate the co-operation and support from the staff, customers, suppliers and landlords at what is clearly a difficult time.

– Nick Edwards, joint administrator and restructuring services partner at Deloitte

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Twitter users share their HMV memories

Twitter users have been sharing their favourite memories of HMV after the news that the music retailers has gone into administration.

Chief executive explains what went wrong at HMV

HMV chief exeutive Trevor Moore has spoken to ITV News' Business Editor Laura Kuenssberg about the events leading up to the retailer entering administration.

He also said the expectation is that "employment would continue" for the company's 4,500 "hugely loyal" employees.

When asked if he takes responsibility for what had happened, Mr Moore said: "I would have liked more time to have been able to develop the solution that I have for the business and implement that plan.

"I very much hope we can bring a business out on the other side".

Singers saddened by HMV administration news

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Concern for physical format of music if HMV disappears

Yes, there’s so many bad things about HMV going under (IF they do) but IF they do, then its an exciting new time to be creative. To re-embrace physical releases and the experience of buying them. To help customers get exactly what they want and to turn them onto things they might not yet know.

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