Google spinoff’s drone delivery business gets FAA approval
Kraft Heinz CEO To Step Down In July
North Korean leader's train suffers hitch on arrival in Vladivostok
Back on the job: Stop & Shop workers end strike
HMV is bought by Canadian retailer Sunrise Records with 1,500 jobs saved
05 February 2019, 06:42 | Joann Bryant
HMV shop in central London Britain
The music entrepreneur will take over 100 shops across the United Kingdom, safeguarding 1,500 jobs.
The UK's biggest high-street music chain, hmv, has been bought out of administration by Doug Putman, owner of Canada's Sunrise Records (which also previously fell under the hmv title until he rebranded). "I feel really lucky to be able to say that we can continue to call it HMV". But 27 locations, employing some 455, will be out of a job.
Sports Direct billionaire Mike Ashley had been vying to take over the music chain but lost out.
The administrators will retain a further 122 employees at warehouse functions to assist them in winding down operations.
Canadian music store chain Sunrise Records has struck a deal to buy British retailer HMV out of bankruptcy in a deal that will keep most of the locations in Britain open.
Sunrise Records CEO Doug Putman said he was delighted to acquire "the most iconic music and entertainment business in the UK", and would aim to replicate his company's success in Canada.
Neil Gostelow, partner at KPMG and joint administrator, added: "We are grateful for the support of all key stakeholders including the suppliers whose support throughout this process has been key in securing this sale".
KPMG is due to announce the 27 stores that will close later on Tuesday, February 5.
We know the physical media business is here to stay'.
Donald Trump's Daily Schedule Report Leak Angers White House
He's always up to something; it's just not what you would consider typical structure", the White House official reportedly said. It adds up to nearly 300 hours of executive time, compared to just 77 hours in official, scheduled meetings over that period.
Super Bowl LIII at 10-Year Low in Early Numbers
The Rams earned the dubious distinction of being tied with the '72 Miami Dolphins for scoring the fewest points in a Super Bowl. Head coach Bill Belichick was spotted with his two-year-old granddaughter Blakely during his victory lap.
Church services marks World Cancer Day
Cancer can be a devastating diagnosis, it is not without hope? India accounts for more than half of new cancer cases in the world. Among Arab-Israeli women, there is a continuous decline in cancer mortality between 1990 and 2016, by 0.5 percent.
'Handmaid's Tale' Season 3 Super Bowl trailer
Offred, who was born June Osborne, is one of the women desperate to flee the nightmarish nation to reach safety in Canada. According to Hulu season, 2 of The Handmaid's Tale has seen the audience double since the launch of season one in 2017.