Troubled HMV has grabbed a lifeline from Hilco buying it out.
The store, which went into administration earlier this year, putting thousands of jobs at risk, has been rescued by specialist restructuring firm Hilco in what is believed to be a £50 million deal.
Hilco now has 132 HMV stores, and nine branches of the Fopp chain. It is expected up to 2,500 jobs could be saved.
The chain is expected to be run by a combination of HMV and newly-appointed Hilco executives, while suppliers are also rumoured to have gone running back to the company offering new terms and given a positive nod to the deal.
HMV could be in safer hands with Hilco already having experience with the brand in Canada, which it bought two years ago.
The purchase rumours emerged a after Jessops was saved by Peter Jones.
Hacks and flacks disguised as hacks at MWC could do worse than head to Devicescape’s press party tonight for free grub and pub games. Get in touch with them for the location.
In fact, Devicescape is even offering hacks free drinks and wi-fi access at participating bars all over Barcelona. Interested moochers should download the MagniFi MWC app which will tell you what you need to know.
“What are the two things at MWC that can be difficult to find?” a Devicescape representative asked in an email. “Free beer and free wi-fi,” they answered. For obvious reasons we can’t spoil the fun by offering the code, but if you’re a member of the press they’ll tell you. The Android app is here.