HMV

The movies and music selling chain HMV could be saved from bankruptcy since restructuring firm Hilco took over HMV’s debts from its lenders Lluyds and Royal Bank of Scotland. Last week HMV has collpased into administration under debts of £176m.

Record labels have stated to be concerned that without a familiar specialist on the high streets, prices would be cut even further by cut-price supermarkets and the internet. They might even be willing to give HMV generous credit terms and cut the prices for them.

HMV has now declared gift cards valid again after declaring them worthless  when the retailer collapsed into administration on 15 january 2013.

A statement from Hilco said: "Hilco UK confirms that it has acquired HMV's debt from the Group's lenders. It has not bought the business itself.

For me personally I like killing time in London at the HMV when I am waiting for someone or waiting for a play/show to start. It is part of the London high streets. In the original article it is stated that Hilco tends to unwind companies and sell them to different partners, for everyone working and shopping at HMV I hope this doesn’t happen but they have not actually purchased the company yet.