HMV: new owner confirms Leamington branch to stay open

Hilco has today (Friday) announced its acquisition of the music and film business and certain assets from its administrators, Deloitte.

Twenty-five of the saved stores had been earmarked for closure.

Paul McGowan, chief executive of Hilco, said: “We hope to replicate some of the success we have had in the Canadian market with the HMV Canada business which we acquired almost two years ago and which is now trading strongly.

“The structural differences in the markets and the higher level of competition in the UK will prove additional challenges for the UK business, but we believe it has a successful future ahead of it.”