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  1. Laura Kuenssberg

Report: Group takes control after buying HMV debt

The private equity firm, Hilco, has bought up the debt of HMV, the music chain that collapsed last week.

This gives the administrators and Hilco some valuable breathing space to work out how much of the business can be saved. More than 4,000 jobs are still at risk as the chain's future remains uncertain.

Hilco, bought HMV Canada in 2011, for just £2 million last year. Buying up HMV UK's debt effectively gives them control of what happens next.

Flagship HMV store on Oxford Street Credit: Press Association

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