Fresh hope for HMV

Fresh hope for HMV

Fresh hope for HMV

First published in Local News

HOPES over the future of collapsed music chain HMV were raised today after its debt was bought by the restructuring business behind HMV Canada.

Hilco UK has taken on the debt from lenders Lloyds and Royal Bank of Scotland in a move effectively giving it control of the business.

It comes after Hilco was appointed adviser to HMV's administrator Deloitte yesterday.

The move should give administrators more time to secure the future of the 92-year-old company and will bring some certainty for the business which has stores in Southend, Basildon and Lakeside.

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