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Equity firm buys HMV's debt

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

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Administrators 'hopeful of securing long-term future for HMV'

HMV's administrators Deloitte have issued an update on the state of the troubled retailer:

Following the news earlier today of Hilco’s acquisition of HMV’s secured debt, the Administrators will work closely with them, as secured lender, as we continue to seek a positive outcome for the business.

Stores continue to trade and at this time we remain hopeful of securing a long-term future for HMV as a going concern.

– Deloitte statement

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