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Glimmer of hope for HMV after 'debt deal'
HMV has been given a glimmer of hope after reports suggest restructuring specialists Hilco has bought the chain’s debt.
According to reports, Hilco – which bought out HMV Canada in 2011 – has secured a deal with HMV’s lenders, the Royal Bank of Scotland and Lloyds.
Although its dept purchase does not officially mean Hilco owns HMV, it effectively gives the firm control of the ailing music giant - which went into administration last week.
It could now mean there is a route out of trouble for HMV and its estimated workforce of about 4,000 people.
Neither Hilco or HMV's administrator Deloitte have commented on the reports.
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