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HMV rescue deal expected by the end of March - source

March 12, 2013 10:15
By Neil Maidment LONDON, March 12 (Reuters) - Administrators at British entertainment retailer HMV will push to secure a rescue deal for the firm before a big quarterly rent bill becomes due at the end of March, a source familiar with the situation told Reuters. The 92-year-old firm was forced to appoint Deloitte to find a buyer for all or parts of the business in January, after succumbing to a decline in CD, DVD and video game markets as well as increasing competition from supermarkets and online rivals.

British music chain HMV to shut 66 stores: administrators

February 7, 2013 11:45
Collapsed British music retailer HMV will close 66 of its stores over the next two months in a move that will axe nearly 1,000 jobs, administrators Deloitte announced on Thursday. "The joint administrators of HMV today confirm that 66 of the group's stores have been identified for closure," Deloitte said in a statement. "The affected stores employ 930 staff. No fixed date is set for the closure of these stores which will continue to trade in the meantime. "However, it is expected that closures will take place over the next one to two months."

Hilco tightens grip on HMV with debt purchase - sources

January 22, 2013 09:30
LONDON, Jan 22 (Reuters) - Restructuring specialist Hilco has bought the debt of HMV, according to sources close to the situation, giving it a big influence in the fate of the British entertainment retailer which fell into administration last week. Hilco, which bought HMV Canada in 2011 and salvaged home goods firm Habitat, has bought the debt from HMV's lenders Royal Bank of Scotland and Lloyds, the sources said on Tuesday.

UPDATE 2-HMV's future seen as handful of stores and website

January 15, 2013 11:30
* Deloitte appointed administrator, 4,123 jobs at risk * HMV will continue to trade while Deloitte seeks buyer * CEO says confident HMV will survive, has "a plan in mind" * Analysts see brand surviving but expect store closures By Neil Maidment and James Davey
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