A Canadian entrepreneur has bought 100 HMV stores from administrators, saving 1,487 jobs and pledging to reinvigorate the music chain through his love of vinyl records.
The deal by Doug Putman, 34, the owner of Sunrise Records, a music retailer chain in Canada, means that the bulk of HMV will be rescued.
However, 27 stores, including the chain’s best-known outlet on London’s Oxford Street, will close immediately, putting 455 people out of work. A further 122 employees at warehouses will be retained to assist in winding-down operations.
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