Universal is reportedly liable for the rent on approximately 40 HMV stores after its £1.2bn acquisition of EMI last year.
EMI guaranteed rental agreements on HMV stores when the retailer was spun off from the record label in 1998.The rental bill could reach £150m if HMV went into administration and the stores were not re-let.
It is understood that Universal have already provided about £40m of financial support to HMV and suppliers have also taken a 5% stake in the struggling retailer after activating warrants that were issued over the shares.
This month, HMV is expected to unveil a series of further tie-ups with suppliers.
Source: The Telegraph
Advertisement
