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HMV 'saved' by restructuring firm.

THE future of the remaining HMV stores, including the Mell Square branch, is looking brighter after a buyer for the 90-year-old chain was announced last week.

THE future of the remaining HMV stores, including the Mell Square branch, is looking brighter after a buyer for the 90-year-old chain was announced last week.

Specialist restructuring firm Hilco has confirmed it has struck an agreement with HMV administrators Deloitte to buy the company, which will keep the remaining 141 branches of the DVD and music giant open.

Paul McGowan, Hilco’s chief executive, said: “We have spent a number of weeks negotiating revised terms with landlords and the key suppliers to the business, all of whom have been supportive of our plans to maintain an entertainment retailer on the High Street. We hope to replicate some of the success we have had in the Canadian market with the HMV Canada business which we acquired almost two years ago and which is now trading strongly.”

 

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