Reports - Hilco to rescue 2,500 HMV jobs in buyout deal

Restructuring specialist reported to be acquiring the firm's remaining 132 stores after it fell into administration in January

Some 2,500 jobs at entertainment and technology retailer HMV could be saved as restructuring specialist Hilco plans to rescue the ailing business.

According to reports, the firm is set to acquire HMV's remaining 132 stores as well as all nine of its Fopp branches in the deal, which was set to be agreed this morning.

At the start of the year, HMV announced it had entered administration, putting 4,350 workers' jobs across 219 branches at risk.

Hilco, which owns HMV Canada, threw the firm a lifeline at the end of January by buying its debt.