Press Esc to close
Sunday 01 February 2015
News updated at 12:34 PM IST
Weather
Max: 28°C
Min : 17°C
In Bengaluru
Sunny day

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
Madhuri Dixit Nene during the launch of a jewellery showroom at Panvel in Mumbai...

Madhuri Dixit Nene during the launch of a jewellery showroom at Panvel in Mumbai...

GOC, White Knight Corps, K H Singh interacting with participants of tour in Doda...

GOC, White Knight Corps, K H Singh interacting with participants of tour in Doda...

Delhi Waveriders and Punjab Warriors players in action during the HIL match in New Delhi...

Delhi Waveriders and Punjab Warriors players in action during the HIL match in New Delhi...

Union Ministry Minister of Drinking Water and Sanitation during his visit at Barlah Water Project...

Union Ministry Minister of Drinking Water and Sanitation during his visit at Barlah Water Project...

Devotees shower flowers on the 42-ft-tall monolithic statue of Lord Bahubali...

Devotees shower flowers on the 42-ft-tall monolithic statue of Lord Bahubali...

Chandrababu Naidu, Ministers and senior officers participate in a three-day workshop...

Chandrababu Naidu, Ministers and senior officers participate in a three-day workshop...

School students participate in a grand Swami Vivekananda Walkathon at Marina beach in Chennai...

School students participate in a grand Swami Vivekananda Walkathon at Marina beach in Chennai...

Lebanese artists perform during a press preview for the 29th International Crafts Mela...

Lebanese artists perform during a press preview for the 29th International Crafts Mela...

School Students make a formation in the shape of 'READ FOR FUTURE' at a school...

School Students make a formation in the shape of 'READ FOR FUTURE' at a school...

Garo Wangala Troops perform during a Cultural Rally to mark the 53rd Anniversary of Dudhnoi...

Garo Wangala Troops perform during a Cultural Rally to mark the 53rd Anniversary of Dudhnoi...

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