Press Esc to close
Saturday 25 March 2017
News updated at 9:14 PM IST

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
A delegation of FIFA U-17 Football World Cup at DY Patil Stadium in Navi Mumbai on Saturday...

A delegation of FIFA U-17 Football World Cup at DY Patil Stadium in Navi Mumbai on Saturday...

Artists Kashmir perform at fifth Rashtriya Sanskriti Mahotsav (RSM) organized by North East Zone...

Artists Kashmir perform at fifth Rashtriya Sanskriti Mahotsav (RSM) organized by North East Zone...

President Donald Trump, flanked by Health and Human Services Secretary Tom Price...

President Donald Trump, flanked by Health and Human Services Secretary Tom Price...

New Mobile Medical Unit vehicle are launched by Karnataka Health and Family Welfare Department...

New Mobile Medical Unit vehicle are launched by Karnataka Health and Family Welfare Department...

Map of India with BJP symbol- Lotus, during the Panch Parmeshwar Sammelan for the MCD elections...

Map of India with BJP symbol- Lotus, during the Panch Parmeshwar Sammelan for the MCD elections...

Bollywood actor Shilpa Shetty during the launch of Saffola breakfast cereal, in Mumbai...

Bollywood actor Shilpa Shetty during the launch of Saffola breakfast cereal, in Mumbai...

A farmer from Tamil Nadu state climbs a tree in a bid to commit suicide, but was later coaxed down..

A farmer from Tamil Nadu state climbs a tree in a bid to commit suicide, but was later coaxed down..

Union Home Minister Rajnath Singh pinning stars on the shoulders of a cadet during passing out...

Union Home Minister Rajnath Singh pinning stars on the shoulders of a cadet during passing out...

Women with their faces painted to on the eve of 60th Earth Hour in Muradabad on Saturday...

Women with their faces painted to on the eve of 60th Earth Hour in Muradabad on Saturday...

Indian cricketers pose with series trophy before the start of last test match against Australia...

Indian cricketers pose with series trophy before the start of last test match against Australia...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523