The Straits Times
Published on Jan 21, 2013

Restructuring specialist Hilco frontrunner for HMV


LONDON (REUTERS) - Restructuring specialist Hilco is the frontrunner in the battle to save music retailer HMV from administration, British media reported on Sunday.

Hilco, which bought HMV Canada in 2011 and salvaged home goods firm Habitat, is favoured by an industry consortium, said the Sunday Times.

The paper said music labels and film studios, such as Universal, Warner, Sony and 20th Century Fox, were preparing a rescue package, keen to keep the 92-year-old retailer alive.

Options for the suppliers include cutting the prices of discs and giving the retailer generous credit terms, it said.