HMV Hong Kong and Singapore stores sold to AID Partners
Hong Kong based private equity firm AID Partners Capital has bought HMVs Hong Kong and Singapore businesses from the administrators as well as its operating licenses for China, Macau and Taiwan.
Administrators Deloitte said that AID Partners had bought the collapsed entertainment retailer’s six stores in Hong Kong and two stores in Singapore. The deal also includes additional brand rights in China, Macau and Taiwan.
Rob Harding, joint administrator, 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 ongoing 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 said it was continuing to pursue interest from parties in licensing the HMV brand in other Asian countries.
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