While Hilco has been slated as the favourite out of HMV’s suitors, the deal was just finalised today, securing 2463 workplaces and 141 retail locations. Some changes reflecting larger music and film distributor involvement will be made, with the company expected to stock fewer consumer electronics and more media moving forward.
“The sale of the restructured portfolio secures the employment of 2643 staff, saves one of the world’s most iconic retail brands and provides a solid financial footing on which the business can be taken forward,” according to Nick Edwards, administrator of the HMV buyout. “We wish the Hilco UK and HMV teams every success with the business.”
Source Hilco
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