Future of HMV in Bury St Edmunds is secured after business is sold by administrators

HMV in the Arc, Bury St Edmunds
HMV in the Arc, Bury St Edmunds

More than 2,600 jobs have been saved after HMV was sold to restructuring specialists Hilco UK.

The sale of 141 stores including the store in the arc, Bury St Edmunds, had been widely anticipted after Hilco bought HMV’s debts back in January, just a week after troubled entertainment retailer called in the administrators.

Administrators Deloitte did close 81 loss making HMV stores to aide the sale of the company.

Nick Edwards, joint administrator said: “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 most iconic retail brands and provides a solid financial footing on which the business can be taken forward.”