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HMV deal 'saves 2500 jobs'

Some 2,500 jobs at retailer HMV have been saved after restructuring firm Hilco agreed a deal to acquire 141 stores, including 23 which had previously been set for closure.

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Who is HMV 'buyer' Hilco?

Hilco, a specialist "restructuring" company confirmed in January that it acquired HMV's debt from the Group's lenders, but not the business itself. It said at the time:

Hilco believes there to be a viable underlying HMV business and will now be working closely with Deloitte who, as Administrators, are reviewing the business to determine future options.

The company says it global leader in "maximising the realisation value of retail assets" and has managed the restructure of the following businesses:

  • Woolworths
  • Habitat
  • Somerfield
  • Denby
  • Littlewoods
  • Borders

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