Gordon Brothers Said to Be Interested in Purchasing HMV AssetsMatthew Boyle and Sarah Shannon
Gordon Brothers Group LLC, a Boston-based liquidation, lending and investment firm, is interested in purchasing assets of U.K. retailer HMV Group Plc that may become available as part of a restructuring process, according to a person familiar with the matter.
The person declined to be identified because the matter is private. HMV, the U.K.’s largest retailer of CDs and DVDs, said late yesterday it planned to go into administration, a form of insolvency protection, and would appoint Deloitte LLP to oversee the process and seek a buyer.
Endless LLP, a private-equity firm that focuses on companies in distress, also said today it contacted Deloitte with a view to buying the company. Hilco, a U.K. retail restructuring firm that owns HMV Canada, may also consider bidding, according to a person familiar with the matter.
Gordon Brothers has been involved in some of the largest distressed retail cases in recent years, including the 2009 liquidation of Circuit City Stores Inc. and purchases of companies including Polaroid Corp. Last year, the firm teamed up with Hilco Merchant Resources LLC to buy the merchandise of Betsey Johnson LLC, a bankrupt U.S. women’s fashion retailer.
Three calls and an e-mail to spokespeople at Gordon Brothers were not immediately returned. A spokesman for Hilco declined to comment.