HMV administrators announced they have sold their majority shareholding in entertainment and music venue company, G-A-Y Group.
G-A-Y was the only remaining venue businesses owned by HMV, comprising the G-A-Y bars and Heaven nightclubs.
It was sold to Jeremy Joseph, founder, and other shareholder in the group. Mr Joseph said:
HMV made a strategic decision to sell certain businesses which included the sale of their shares in G-A-Y almost a year ago. I am delighted to have acquired 100% ownership of the business that I founded 20 years ago and to have secured the future of my 200 employees