HMV buyout imminent as stores remove 'closing down' signs

March 25th, 2013, 20:35 Posted By: wraggster

Following the sale of Blockbuster over the weekend, it is believed that a similar deal could soon take place for HMV.
A handful of HMV stores reportedly took down their closing down signs over the weekend. That's according to a number of tweets, which detail that stores including Stockport, Manchester Market Street and Argyle Street had been instructed to remove the signs.
Whilst neither Deloitte nor HMV have commented on the speculation of a deal being imminent, talks between the brand and potential buyers are on-going.
A report from Music Week indicates that front runner Hilco, which owns HMV's debt, could sign a deal within the next ten days, following approval from HMV's store landlords and suppliers.
It is believed that Hilco would aim to operate close to 120 HMV stores, whilst the possibility of re-opening a number of closed stores remains on the cards.
However, whilst a deal could be reached throughout the week ahead, HMV still faces looming rent payments across the following 24 hours – a seemingly difficult situation for the brand.

http://www.pcr-online.biz/news/read/...n-signs/030604

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