HMV sells off international operations

Joint administrator Deloitte also confirms the sale of additional HMV
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Deloitte has announced the sale of HMV's stores within Hong Kong and Singapore, along with additional brand rights in further Asian countries.

The administrator confirmed the buy-out by AID Partners Capital Limited, which took on HMV's six stores located in Hong Kong, and two Singapore branches.

AID Partners has also taken on additional HMV brand rights in China, Macau and Taiwan as the firm looks to grow the brand within Asian markets.

Rob Harding, joint administrator for Deloitte, said: "We are delighted to have completed the sale of HMV’s Asian business and wish AID Partners and the HMV Asia team every success for the future in developing this iconic brand further."

"Since the broader HMV group entered administration on 15 January, the on-going support and funding we have received from Hilco, the group's secured lender, has provided sufficient time to allow this sale to be concluded on a solvent basis.”

Deloitte has said it is to continue its pursuit of additional parties who have shown interest in licensing the HMV brand within Asian countries.

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