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Retail

Hilco wants 130 HMV stores

Hilco wants 130 HMV stores

Fri 01 Mar 2013 10:16am GMT / 5:16am EST / 2:16am PST
Retail

Latest reports suggest retail chain in talks for 50m deal

130 HMV stores could be saved, along with thousands of jobs, if a new 50 million deal with Hilco comes to pass.

"Hilco is now vying with one other bidder and the suppliers are on side," a source told The Sun.

"But it's all down to the landlords - and about a quarter of them are refusing to budge."

The reports suggest that there's a deadline on the deal, one set by the landlords, who will present the chain with rent bills at the end of this month.

Administrator Deloitte is overseeing HMV's affairs, and the chain has so far seen some significant sales, of both its Asian business and its stake in the G-A-Y night-club, and significant closures and job losses.

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