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21/01/2013
HMV To Honour Gift Vouchers
HMV will again accept gift vouchers from Tuesday, according to administrators.
Deloitte, who took over operations of the store last Tuesday, had previously said that gift cards would not be redeemed in stores.
The administrator said it was now able to honour the vouchers following assessment of HMV's financial position.
Meanwhile restructuring specialist Hilco has emerged as the frontrunner to save HMV, reports say.
An industry consortium of music labels and film studios, including Universal Music and Sony, are believed to favour Hilco, according to newspaper reports.
It is understood that if Hilco is successful with its bid, suppliers would be willing to give HMV stores generous credit terms.
Deloitte has said there are 50 separate groups or individuals who have expressed an interest in buying all, or part of HMV.
(H/GK)
Deloitte, who took over operations of the store last Tuesday, had previously said that gift cards would not be redeemed in stores.
The administrator said it was now able to honour the vouchers following assessment of HMV's financial position.
Meanwhile restructuring specialist Hilco has emerged as the frontrunner to save HMV, reports say.
An industry consortium of music labels and film studios, including Universal Music and Sony, are believed to favour Hilco, according to newspaper reports.
It is understood that if Hilco is successful with its bid, suppliers would be willing to give HMV stores generous credit terms.
Deloitte has said there are 50 separate groups or individuals who have expressed an interest in buying all, or part of HMV.
(H/GK)
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