Deathwatch: Hilco move in and acquire HMV’s mountain of debt

January 22nd, 2013 3 Comments By Andy Dawson

retaildeathwatch Deathwatch: Hilco move in and acquire HMVs mountain of debtThere’s been a development in the unsavoury HMV saga, with the news that retail restructuring group Hilco UK has acquired the debt of the beleaguered entertainment retailer and effectively allowing it to take control of it.

Hilco already owns HMV Canada, which puts it in a strong position when it comes to attempting to save its UK cousin. This of course doesn’t mean that a magic wand will be waved, saving all 230 stores and 4,000 jobs but it will possibly shine a ray of hope over the nearly-knackered chain of shops.

It was said earlier in the week that more than 50 parties had expressed an interest in buying some of the company, with Game Retail believed to have its beady eye on about 45 stores.

Whether a smaller version of HMV will survive, with loss-making stores closed down remains to be seen. Or maybe we’ll all be killed by a falling meteorite. You just never know…

Comments (3) Jump to most recent comment
  1. Posted by Wongaporkpies January 22, 2013 at 8:51 pm

    Well at least HMV will not be hit by a Opcapita Comet !!!!!!!!!

  2. Posted by kv January 22, 2013 at 11:26 pm

    at least Theo Paphitis didnt get his hands on it

  3. Posted by Wongaporkpies January 30, 2013 at 7:47 pm

    B ironic Theo getting his hand on it and people ask for a Dragons DVD, and the person at the Counter says sorry we don’t stock that title, but we can order it via Amazon or Play.com on your behalf. We would have charged £12.99 but play sell it for £8.99 but we will still charge you £12.99 which includes a £4 handling charge !

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