HMV rescue: Hilco deal saves 2,500 jobs

AROUND 2,500 jobs at entertainment retailer HMV were saved today after restructuring firm Hilco bought 141 stores, including 25 previously slated for closure.

Hilco, which already owns HMV Canada, has bought the high street chain from administrator Deloitte, reportedly paying £50 million for the DVD and CD retailer.

The company, which is also in talks about re-establishing the chain in Ireland, has negotiated revised terms with landlords and the key suppliers to the business.