Crawley HMV future safe

jpco/16/1/13 HMV store in Crawley (Pic by Jon Rigby)

jpco/16/1/13 HMV store in Crawley (Pic by Jon Rigby)

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The future of the town centre HMV store is secure after administrators successfully sold the business.

The music and entertainment chain went into administration in January after a slump in sales.

Administrators Deloitte had to close 81 stores but managed to secure the remaining 141.

The restructured company has been bought by Hillco UK, securing 2,643 jobs across the country.

Nick Edwards, Joint Administrator, commented: “We are delighted to have completed the sale of HMV’s UK retail business to Hilco UK. The sale of the restructured portfolio secures the employment of 2,643 staff, saves one of the world’s most iconic retail brands and provides a solid financial footing on which the business can be taken forward. We wish the Hilco UK and HMV teams every success with the business. I would like to thank all those stakeholders that have worked with us during the administration, but in particular the staff, suppliers and landlords for their support in making this deal possible.”