Report: Half of HMV stores in UK likely to close

Hilco is now the owner of the HMV chain of high street stores, and right now they’ve got property consultants CBRE and Savills assessing the real estate. It’s believed half will be closed down.

Interestingly the banking syndicate, which includes RBS and Lloyds, turned down higher offers for HMV as they believed selling to an asset stripping group would harm their reputations.

The British public is sensitive to seeing long-time high street chains disappear, with the iconic Woolworth’s having collapsed years back upsetting many to see it fade away.

The lending group also turned down lucrative offers for HMV’s flagship store on Oxford Street.