It's been a rough couple of weeks for HMV. A couple of weeks back, the music retailer and entertainment company announced that it had officially entered administration. Though little information on the company's future was offered, HMV did say that it had appointed Deloitte as an administrator and Deloitte said it would be keeping stores open while it assesses HMV's situation and seeks a buyer. Unfortunately, though stores remain open, staff aren't safe from redundancies.
"Although such decisions are always difficult, it is a necessary step in restructuring the business to enhance the prospects of securing its future as a going concern," he's quoted as saying."
Last week brought word that Hilco, the same company that purchased HMV Canada from HMV Group last year, had purchased HMV's debt. Last year's sale of HMV Canada to Hilco is the reason why the Canadian HMV stores are unaffected by HMV Group's financial problems.
