HMV gets lifeline from Hilco

Community Correspondent
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Restructuring specialist Hilco UK has bought HMV's debt, raising hopes for the salvation of the high street music retailer.

The restructuring firm, who also owns HMV Canada, confirmed yesterday via a statement on its website that it had acquired HMV’s debt from lenders Lloyds and RBS.

Last week, HMV went into administration after it announced it could not continue trading outside of an insolvency process.

It appointed Deloitte partners Nick Edwards, Neville Kahn and Rob Harding to act as administrators of the company and some of its subsidiaries.

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lifeline from ' a saviour'

I got an email from Philip Rowley, HMV Chairman, this monday saying HMV were looking for; "a saviour" ... (I used to work for him years ago)

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