HMV's debt gobbled up by Hilco as firm seizes control

RHIAN JONES

Hilco has taken effective control of HMV after buying the retailer's debt from lenders, Lloyds and Royal Bank of Scotland.

The retail restructuring group was reportedly the frontrunner for the struggling High Street chain this morning and has now closed the deal with the groups administrator Deloitte, according to the BBC.

The debt deal gives Hilco effective control of HMV UK. Hilco already owns HMV Canada after buying the arm in 2011 for £2 million ($3.2 million).

HMV went ...

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