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HMV is sold to Hilco in rescue deal

Restructuring specialist Hilco has clinched a deal to rescue music and DVD retailer HMV.

Hilco, which already owns HMV Canada, said it had acquired 132 HMV shops and all nine branches of the Fopp chain in a deal that could save 2,500 jobs.

HMV, the UK's last surviving national music retailer, collapsed in January after months of financial crisis.

Hugh Pym reports.

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