HMV close to rescue

A deal has been agreed to save HMV.

Restructuring company Hilco are reported to have agreed a complex deal to rescue the ailing company. A report in the Financial Times states that “people familiar with the situation” claim that Hilco has reached agreement with HMV Group’s lenders over the firm’s estimated £176m debt.

The proposed deal, which would not see Hilco – who already own HMV Canada – remove HMV from administration, though they would work jointly with administrators Deloitte to run the business.

Hilco and Deloitte are yet to comment.

Source: Digital Spy

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