HMV owed taxman £20m when it collapsed

New figures show bankers were also owed £109m
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HMV owed £20 million in tax when it collapsed in January, new figures have revealed.

The Daily Mail reports that a picture of the entertainment retailer’s books at the time of its collapse shows not only £20m being owed in tax but also the bankers to the group, which included Royal Bank of Scotland, were owed £109 million.

Last week it emerged that Hilco was in talks with administrator Deloitte about acquiring HMV for £50 million.

The restructuring firm and owner of HMV Canada could potentially save thousands of jobs as it looks to assume control of 130 UK stores.

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