HMV future set to be secured

Michael Bow
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THE LEADING candidate to take over bankrupt music retailer HMV was nearing a deal last night to take the historic chain out of administration, securing its future and 2,500 jobs.

Hilco, the restructuring firm that already owns HMV Canada, had effectively seized control of the company in January after buying up all the debt HMV owed to its lenders. It is understood Hilco will now buy the company outright in a £50m deal.