Hilco saves 141 HMV stores, negotiating to re-establish businesses

Hilco has acquired more than 141 stores and 2,500 employees from entertainment retailer HMV and is currently negotiating with landlords to re-establish businesses in the Republic of Ireland, the company announced via press release.

According to the press release, Hilco employees will work with existing management, at least initially. Ian Topping and Henry Foster will lead the initiative. The company has completed its acquisition and "hopes to replicate" the success it had in the Canadian HMV market two years ago, Hilco CEO Paul McGowan said.

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

Hilco took on the retailer's debt in January as a first step to stabilizing and taking full ownership of the company. More than 100 stores were expected to close with some 1,500 employees being laid off. Of the 141 stores that Hilco acquired, at least 25 were scheduled to shut down. MCV released the full list of stores, which you can read here.

More from Polygon

Hearthstone: Naxxramas Overview

  • Oddworld: New 'N' Tasty - Overview video

  • Destiny's beta comparison video: PS4 versus Xbox One

  • The Crew closed beta - Overview video

  • Polygon goes to Poland

Latest Discussions

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.
Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.

tracking_pixel_5353_tracker