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DELOITTE: HMV STORES SALE TO HILCO TO SECURE 2,643 JOBS


(The following press release from Deloitte was received by e-mail. It was not confirmed by the sender.)

Good morning,

Please find below a statement from Deloitte confirming the sale of HMV’s UK retail business to restructuring specialists Hilco UK. Under the sale, 141 of HMV’s stores and the group’s head office and distribution functions are transferred into the new ownership securing 2,643 jobs.

With best wishes, Celine.

News Release

Contact: Deloitte press office 020 7303 5054 cgordinewright@deloitte.co.uk<mailto:cgordinewright@deloitte.co.uk/> / jigoe@deloitte.co.uk<mailto:jigoe@deloitte.co.uk>

Friday 5 April 2013

Administrators confirm sale of HMV UK to Hilco

The Joint Administrators of HMV today confirm the sale of HMV’s UK retail business to restructuring specialists Hilco UK. Under the sale, 141 of HMV's stores and the group’s head office and distribution functions are transferred into the new ownership securing 2,643 jobs.

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.”

Nick Edwards, Rob Harding and Neville Kahn, restructuring partners at Deloitte, the business advisory firm, were appointed Joint Administrators to HMV Group plc, HMV Music Ltd, HMV UK Ltd, HMV (IP) Ltd and Fopp Entertainments Ltd (together “HMV” or “the Companies”) on 15 January 2013. On appointment, HMV operated 222 stores, of which 81 have closed.

-Ends-

Note to editors: For media enquiries regarding the ongoing business, please contact Jonathon Brill at Financial Dynamics on 020 7269 7170 or 07836 622 683.

The 141 stores included in the sale are: Aberdeen, Ayr, Banbury, Bangor (Wales), Basildon, Basingstoke, Bath, Belfast Donegall Arcade, Birmingham Bullring, Blackpool, Bluewater, Bournemouth, Bradford, Brighton Churchill, Bristol Broadmead, Bristol Cribbs, Bromley, Bury, Bury St Edmunds, Cambridge, Canary Wharf, Canterbury, Cardiff, Carlisle, Chelmsford, Cheltenham, Chester, Chichester, Colchester, Coventry, Crawley, Cwmbran, Darlington, Derby, Doncaster, Dundee, East Kilbride, Eastbourne, Edinburgh Fort Retail, Edinburgh Ocean Terminal, Edinburgh Princes Street, Exeter, FOPP Bristol, FOPP Cambridge, FOPP Covent Garden, FOPP Edinburgh, FOPP Glasgow Byres Road, FOPP Glasgow Union Street, FOPP Gower Street London, FOPP Manchester, FOPP Nottingham, Gateshead, Glasgow Argyle, Glasgow Buchanan, Glasgow Fort, Gloucester, Grimsby, Guernsey, Guildford, Hanley, Harlow, Harrogate, Hastings, Hatfield, Hereford, High Wycombe, Horsham, Hull, Inverness, Ipswich, Isle of Man, Isle of Wight, Islington, Jersey, Kettering, Kings Lynn, Kingston, Leamington Spa, Leeds Headrow, Leeds White Rose, Leicester, Lincoln, Liverpool One, Livingston, Llandudno, Maidstone, Manchester 90 Market Street, Manchester Trafford, Mansfield, Merry Hill, Middlesbrough, Milton Keynes, Newcastle, Newport (Wales), Northampton, Norwich Gentlemans Walk, Norwich Chapelfield, Nottingham Victoria, Nuneaton, Oxford, Oxford Circus, Peterborough Queensgate, Plymouth Drake Circus, Poole, Portsmouth Commercial Road, Portsmouth Gun Wharf Quay, Preston, Reading Oracle, Romford, Selfridges Oxford Street, Sheffield High Street, Sheffield Meadowhall, Shrewsbury, Solihull, Southampton, Southend Victoria, Southport, Speke Park, Staines, Stevenage, Stirling, Stockport, Stratford upon Avon, Stratford City Westfield, Sunderland, Sutton, Swansea, Taunton, Thanet, Thurrock, Truro, Tunbridge Wells, Uxbridge, Westfield London, Wimbledon, Winchester, Wolverhampton, Worcester, Worthing, Yeovil, York.

About Deloitte

In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about<http://www.deloitte.co.uk/about> for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press. For more information, please visit www.deloitte.co.uk<http://www.deloitte.co.uk>.

Member of Deloitte Touche Tohmatsu Limited

Céline Gordine-Wright PR Manager Deloitte LLP 3 New Street Square, London, EC4A 3BT, United Kingdom Tel: +44 (0)20 7007 6384 | Mobile: +44 (0)7768 358 262 cgordinewright@deloitte.co.uk | www.deloitte.co.uk P Please consider the environment before printing.

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