Hilco's PE Unit Rescues Music Chain HMV

Law360, New York (April 5, 2013, 1:53 PM EDT) -- The private equity division of restructuring firm Hilco Trading LLC said Friday that it had bought 141 retail locations of insolvent HMV Group PLC, saying it had plans to revive the U.K-based bankrupt DVD and CD seller.

The stores had been slated for closing by HMV’s administrator, Deloitte LLP. Hilco U.K. did not announce the purchase price, but the sale was widely reported to be $76 million. The acquisition potentially saves 2,500 jobs, Hilco said.

“We're officially out of administration and under new ownership,” HMV said...
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