<p>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.<br /><br /></p>.<p>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.<br /><br />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.</p>
<p>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.<br /><br /></p>.<p>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.<br /><br />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.</p>