Hilco now sole HMV bidder - report

Tom Pakinkis

Hilco is now the sole bidder for HMV.

The Independent reports that the future of the entertainment High Street chain is likely to be decided in the coming days with the retail restructuring specialist – which owns HMV in Canada – in the driving seat.

Hilco took on HMV’s debt in January after the company slipped into administration. There are around 130 of HMV’s original 220 stores available for acquisition in a deal worth over £50 million.

While there have been reports that Deloitte’s sale of HMV has to happen before midnight this Sunday before the chain’s second-quarter rent bill is due, The Independent says that this deadline is not critical.

Asda was the latest name said to have shown interest in acquiring HMV’s stores alongside Hilco. Reports earlier in the month said that the supermarket giant wanted to take on the HMV brand and business, rather than use the sites to roll-out new Asda stores.


Tags: HMV, Retail, Hilco

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