HMV expected to be saved through £50 million Hillco deal

The HMV brand is set to be rescued by Hillco Commercial which has put forward a £50 million package that looks set to save around 2,500 jobs.

The 90 year old entertainment retailer’s 130 stores across the UK could be saved through the package, with a deal expected to be signed this morning.

Hillco specialises in the investment of distressed businesses.

HMV went into administration in January, with many citing an online operation that wasn’t in place quick enough to save its ailing fortunes.

At the time of writing no one from HMV had commented on the deal.

Last week, entrepreneur Peter Jones took control of the remaining Jessop's stores, with a plan to ressurect the camera retailer following its administration that took place just before that of HMV.

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