Stevenage HMV jobs safe after rescue deal

Stevenage's HMV store has been included in a rescue deal

Stevenage's HMV store has been included in a rescue deal - Credit: Archant

JOBS at Stevenage’s HMV store are safe after the shop was included in a rescue deal announced today (Friday).

The music and video firm went into administration in January but the future of the store in Stevenage town centre has now been secured after Hilco UK bought 141 stores.

The eight staff working at the Stevenage branch will keep their jobs along with a further 2,635 employees across the UK.

Hilco, which already owns HMV Canada, takes over following the closure of 81 HMV stores during a restructuring process by administrator Deloitte.

“We are delighted to have completed the sale of HMV’s UK retail business to Hilco UK,” said joint administrator at Deloitte Nick Edwards.

“The sale of the restructured portfolio secures the employment of 2,643 staff, saves one of the world’s most iconic retail brands and provides a solid financial footing on which the business can be taken forward.

“We wish the Hilco UK and HMV teams every success with the business. I would like to thank all those stakeholders that have worked with us during the administration, but in particular the staff, suppliers and landlords for their support in making this deal possible.”