After going into administration in January, HMV has been rescued by a restructuring firm called Hilco, in a deal thought to be worth over 50 million pound and has now allowed the company to keep 141 remaining stores open for business.
In order to do so however, Hilco have said that HMV will no longer sell tablets and other devices, in order to bring the chains to its original plan, enhancing sales in music, DVD and Blu-Rays.
A Hilco exec named Ian Topping said the following about the savior:
“This is an exciting investment for the Hilco team and we will be able to use some of the developments already progressed in Canada to restore HMV to health, we intend to reverse the earlier decisions to sell tablets and other devices in the stores and to reclaim the space for an enhanced music and visual range.”
“The reaction of the British public to the administration of HMV shows a strong desire for the business to continue to trade and we hope to play a constructive part in delivering that.”
After working with the brand in Canada, its likely that Hilco will be able to turn this store around, with a lot less focus on accessories.
What do you think about this?