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HMV Canada owner 'showing interest' in buying UK stores

Turnaround company Hilco could rescue retailer from administration

Restructuring group Hilco is reportedly interested in rescuing embattled retailer HMV after the UK firm announced plans to go into administration.

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Hilco, which acquired HMV Canada from its UK parent in 2011, is rumoured to be considering buying some of HMV's 230 UK stores, the Financial Times reports.

HMV called in administrators from Deloitte after failing to agree on new terms for its debt during crisis discussions with lenders over the weekend. The firm's inability to secure a funding lifeline has put some 4,000 jobs at risk.

A spokesperson for HMV has said it hopes to work "as close to normal store practices as possible" during its administration period.

HMV will still stock Capcom's latest major game DmC: Devil May Cry, CVG has learned, but other publishers have told us it's too early to speculate on whether they can remain in business with the company.

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