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Hilco strikes £50m deal for HMV Friday, 5th April 2013
After months of uncertainty, it seems HMV could be about to emerge from administration as part of a £50 million deal with Hilco. According to Sky News, a deal between the two companies could be stuck as soon as Friday, with the chain expected to be run by incumbent HMV executives alongside newly-appointed Hilco executives.
Will Hilco save the day for HMV? Friday, 1st March 2013
Restructuring experts Hilco are said to be on the verge of saving HMV with a deal worth £50 million, according to reports by The Sun. The company has been reported to be looking into taking on 130 of HMV stores and saving thousands of members of staff after the music and entertainment retailer was placed into administration in January.
HMV administrators announce closure of another 37 stores Thursday, 21st February 2013
HMV administrators have announced the closure of another 37 stores stores, resulting in an additional 464 staff members being made redundant. The announcement given on Wednesday stated that the descision was made after an evaluation of the HMV portofolio. According to HMV adminsitrators Deloitte, this was a necessary step towards a securement of the company’s future, as their debts now are estimated to be around £170 million.
“In-store performances” by stars could help save HMV Wednesday, 20th February 2013
It has been reported that HMV is considering the idea of having popular music stars perform within their stores, an idea suggested by Sir Elton John and supported by major record label Universal. HMV, known for decades as the UK’s leading retailer of music and film, collapsed into administration in January after years of struggling to compete with the increasing popularity of digital distribution.
HMV administrators make chief executive redundant Monday, 11th February 2013
Trevor Moore, chief executive of HMV and former boss of Jessops has been made redundant by Deloitte, the administrators of the music and entertainment retailer. Moore is one of 60 members of staff at HMV’s head offices to be made redundant after the retailer fell into administration in January.
HMV expected to sell its flagship Oxford Street store Thursday, 7th February 2013
Photo Credit: My Retail Media. Hilco, the restructuring firm that took control of HMV after buying its debts earlier this month, reportedly intends to sell the music and film retailer’s flagship store in Oxford Street. It is expected that the store will be sold as part of Hilco’s attempts cut costs by greatly decreasing the number of HMV outlets nationwide.
HMV administrators to close up to 100 stores Monday, 4th February 2013
Administrators at HMV are set to announce plans to close between 60 and 100 HMV stores this week, after cutting 190 jobs at the retailer’s head office last week. According to the Telegraph, Deloitte is preparing the “next stage of restructuring” for the retailer, which could result in the loss of up to 1,500 jobs.
Hilco to meet with major music and film brands to discuss its plans to save HMV Monday, 28th January 2013
Hilco is set to begin its negotiations with major music and film brands as it begins to outline its plans to preserve music and film retailer HMV. Restructuring firm Hilco bought HMV’s £120 million debt last week, only a week after the retailer, which has struggled to compete with the rise in popularity of online retail, announced that it was going into administration.
Hilco buys HMV’s debts from Deloitte, aims to keep stores open Tuesday, 22nd January 2013
Only a week after music and film retailer HMV fell into administration, it has been confirmed that Hilco has bought the company’s debt, effectively giving them control over the company. The retail chain announced that it was going into administration last week after a long period of struggling to compete with the continuously increasing sales of music and film through the internet.