Deloitte sells HMV’s Asia Pacific assets
Administrator says efforts to keep a smaller, restructured group on track
By CFOWorld.co.uk staff | CFO UK | Published 17:45, 28 February 13
HMV has sold its Asia Pacific assets, according to the retailer's administrators Deloitte.
In a statement on Thursday, Deloitte said private equity group Aid Partners had bought HMV’s six retail outlets in Hong Kong and two in Singapore. The deal also included branding rights in China, Taiwan and Macau.
However, Deloitte did not reveal the details of the transaction.
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."
HMV appointed Deloitte as an administrator on 15 January. As per an announcement by the administrators on 20 February, so far 103 of HMV’s 219 shops in the UK have been marked for closure.
Deloitte said plans to keep a smaller, restructured HMV as a going concern were firmly on track.
Share:Facebook Twitter Google Plus Stumble Upon Reddit Share This Email this article
Working capital improvements start to pay off, but more could be donemore ..
Balfour board says the offer does not address its two main concernsmore ..
The FTSE100 housebuilder credits Help to Buy with encouraging growthmore ..
Price drops in clothing and food biggest contributor to fall in inflationmore ..
Outdated finance processes, systems and competencies leave too many questions unansweredmore ..
CFOs are keen for the chancellor to avoid any uncertaintymore ..