Press Esc to close
Friday 27 May 2016
News updated at 2:06 AM IST
Weather
Max: 33.2°C
Min : 22.8°C
In Bengaluru
Partially cloudy

HMV stores to be sold to private equity co

London, April 6, 2013, NYT:

Private equity firm Hilco Consumer Capital agreed on Friday to buy more than 140 stores of the British music retailer HMV as part of a rescue deal after the company went into bankruptcy earlier this year.

Hilco, which acquired HMV’s Canadian operations in 2011 for $3.3 million, will buy the music stores across the country for around 50 million, or $76 million, according to a person with direct knowledge of the matter, who spoke on the condition of anonymity because he was not authorized to speak publicly.

Hilco had been the frontrunner to snap up HMV and its well-known trademark of a dog next to a gramophone after it bought the debt of the struggling British music retail chain in January. HMV had outstanding debt of $280 million in October, but had struggled from reduced spending by British consumers who are facing a downturn in the local economy.


Go to Top

Photo Gallery
Rishi Nair of Florida bites his metal after winning the 2016 National Geographic Bee...

Rishi Nair of Florida bites his metal after winning the 2016 National Geographic Bee...

Vehicles moving on a road during a dust storm in Bikaner...

Vehicles moving on a road during a dust storm in Bikaner...

Buddhist monks protest at Jantar Mantar in New Delhi on Thursday against killing of Tsering Tempa...

Buddhist monks protest at Jantar Mantar in New Delhi on Thursday against killing of Tsering Tempa...

College girls dressed in traditional attire perform cultural show during anniversary of NDA govt...

College girls dressed in traditional attire perform cultural show during anniversary of NDA govt...

Models walk on a ramp during fashion show of students of National institute of fashion technology...

Models walk on a ramp during fashion show of students of National institute of fashion technology...

President Pranab Mukherjee garlanding the bust of Tagore at Peking University...

President Pranab Mukherjee garlanding the bust of Tagore at Peking University...

Women of a tribal community take part in pitcher race during a tribal festival in Birbhum district..

Women of a tribal community take part in pitcher race during a tribal festival in Birbhum district..

The stray nilgai calf that was running frenzied near the Parliament House being rescued...

The stray nilgai calf that was running frenzied near the Parliament House being rescued...

A baby monkey continue to suckle as its mother try to quench its thirst from a drinking water tap...

A baby monkey continue to suckle as its mother try to quench its thirst from a drinking water tap...

World leaders at the start of the second working session of the G-7 summit meetings in Shima...

World leaders at the start of the second working session of the G-7 summit meetings in Shima...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523