Struggling music retailer HMV has been saved today with a £50 million buy-out deal.
The saviours of the iconic British company are none other than Hilco, the owners of HMV Canada who were in previous talks with administrators Deloitte to save the company. In March, it was reported that Walmart owned supermarket Asda was also in talks to buy HMV.
The source of the information is from Reuters who claim said info came from “a source familiar with the deal.”
Hilco’s buy-out of HMV has saved 130 stores and 2500 jobs.
“This is an exciting investment for the Hilco team and we will be able to use some of the developments already progressed in Canada to restore HMV to health,” Hilco’s Ian Topping said, commenting on the matter.
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