Hilco buys HMV debt and takes control

Wed, 23 Jan 2013 | BUSINESS NEWS

Hilco has purchased HMV's debt and taken control of the retailer, it has been confirmed.

The business, which already owns HMV Canada, bought the debt from Lloyds and the Royal Bank of Scotland, in a debt deal with the banks for the business in administration.

Estimates put HMV's debt at around £176 million, but Hilco is thought to have paid a lot less than this due to the company's status as being in administration. It is worth noting, however, that the deal does not mean that Hilco officially owns HMV just yet, although it does given it effective control.

Hilco was reportedly the favoured party for a buyout of HMV, receiving support from an music industry group of record labels and film studios, including Sony and Universal Music.

This could be down to the success that Hilco brought to HMV Canada when it bought it from the parent HMV group back in 2011 for £2 million.

HMV entered administration last week under pressure from online competition, supermarket rivals and illegal downloading. The business has a total of 223 stores in the UK and employs a workforce of around 4,000.

Share this article

Latest Businesses for Sale

Independent Financial Planning Wealth Management
Dorset, UK Wide

With ever-increasing levels of regulatory compliance taking away available client-facing time the founding Director feels the business and its clients would be better positioned within a larger entity. Offers invited.

Asking Price: Offers Invited
Turnover: £550,000

Agriculture Business
UK Wide

Soil & water erosion control, ecological restoration. Highly profitable business providing environment, enhancing, low carbon, sustainable solutions across the UK. Market leader with a high market share and high barriers to entry. Expert knowledge of...

Asking Price: Offers Invited
Turnover: £5,623,000

Independent Financial Advisors
Leeds, West Yorkshire, Yorkshire and the Humber, UK

Top quality systems and processes together with a prudent attitude to investment policy avoiding so called “high risk” advice has resulted in loyalty and longevity of client tenure. Offers invited.

Asking Price: Offers Invited
Turnover: £500,000

View more businesses for sale

News Search

Latest News


Sheffield candle retailer enters administration | ADMINISTRATION

A shop retailing candle and gifts in Sheffield has collapsed...


Equity funding reaches record high for SMEs | BUSINESS NEWS

As investment rises outside of the capital, small businesses...


Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Related News


Historic West Yorkshire manufacturer enters administration | ADMINISTRATION

A construction industry supplier based in West Yorkshire has...


The Hut Group buys Christophe Robin haircare brand | BUSINESS SALE

British e-commerce firm The Hut Group (THG) has acquired Fre...


Prominent stationery supplier enters administration | ADMINISTRATION

Another British high street retailer has fallen victim to th...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources