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Suppliers pledge £40m to support HMV

Entertainment retailer backed for Christmas period

Matt Martin avatar
News by Matt Martin Contributor
Published on

Struggling entertainment retailer HMV will trade through the Christmas period backed by £40 million pledged by suppliers.

That's according to a report by The Telegraph citing industry sources, noting that HMV has a market value of just £14 million.

Specifically the report suggests HMV has "secured greater access to music and film suppliers' back catalogues" and will own pay for products it sells. Those same suppliers have taken a 2.5 per cent take in HMV.

The retailer is due to reveal interim results and a Christmas trading update on Thursday, December 13.

Related topics
Business HMV Retail
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Matt Martin avatar

Matt Martin

Contributor

Matt Martin joined GamesIndustry in 2006 and was made editor of the site in 2008. With over ten years experience in journalism, he has written for multiple trade, consumer, contract and business-to-business publications in the games, retail and technology sectors.