HMV administrators Deloitte have sold the retailer’s business in Asia to Hong Kong-based private equity firm Aid Partners.

The firm has bought HMV's six shops in Hong Kong, two shops in Singapore and branding rights in China, Macau and Taiwan.The Asia HMV business generates annual sales of more than 300m Hong Kong dollars ($39m; £25m).

AID focuses its investment in Greater China. The firm currently manages a multi million US dollar commitment which invests in growth equity and expansion capital ...