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published Tuesday, Jan 22nd

HMV Taken Over By Restructuring Specialists

Hlico, a restructuring specialist that already owns HMV Canada, has taken effective control of the British branch of the troubled entertainment retailer, which went into administration on 15th January.

BBC News reports that Hilco has brought HMV’s debt from its lenders, Lloyds and RBS. Although the debt was believed to be in the region of £176m, it is thought that Hilco have paid much less due to the retailers current situation.


Blockbuster by
published Wednesday, Jan 16th

Blockbuster Enter Administration, Will Still Take Gift Cards

You can stop worrying about that VHS copy of the Mortal Kombat film you forgot to return to Blockbuster in the late 90’s — the DVD rental firm has joined the likes of HMV and Jessops, announcing that it too is set to enter administration.

The chain, which has over 500 UK stores employing some 4,000 staff, has appointed Deloitte to handle the business whilst a new buyer is sought.