Hatfield store included in HMV rescue deal
PUBLISHED: 12:21 05 April 2013 | UPDATED: 12:23 05 April 2013
HATFIELD’S HMV store has been saved in a rescue deal which could revive the floundering firm.
The High Street music firm went into administration in January and since then speculation on its future and the Galleria store has been rife.
But today (Friday) administrators Deloitte revealed it had sold the company’s UK retail business to restructuring specialists Hilco UK.
The deal – which included 141 HMV stores, the group’s head office and its distribution centres – is believed to be worth £50m.
It is believed 2,643 jobs will be saved.
Nick Edwards, joint administrator, said: “We are delighted to have completed the sale of HMV’s UK retail business to Hilco UK.
“The sale of the restructured portfolio secures the employment of 2,643 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.
“We wish the Hilco UK and HMV teams every success with the business.
“I would like to thank all those stakeholders that have worked with us during the administration, but in particular the staff, suppliers and landlords for their support in making this deal possible.”
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