HMV latest: Hilco may be interested party

Retail restructuring group Hilco has been credited as a potential suitor for HMV which officially called in administrators yesterday.

Hilco currently owns HMV Canada and according to a report in the FT could be keen on acquiring some HMV stores although an approach is yet to be made.

Deloitte, which has been advising HMV’s lending banks, was appointed as administrator to the chain and the company said its shares would be suspended. The move puts 4,000 jobs at risk.

The boss of HMV Trevor Moore told journalists:  "We remain convinced we can find a successful business outcome. The intention is to continue to trade the stores."

Mr Moore said the board would do whatever they could to support staff, while Deloitte assesses the prospects for the business and seeks potential buyers.

"I would like to personally pay tribute to the 4,500 people who work for HMV. Clearly this is a very worrying time for them and their families."