Wednesday, January 02, 2013

HMV being fought over. No, really.

HMV must find itself to be the subject of a battle: Apollo Global Management has been trying to buy up the chain's debt in order to gain control of the company and its assets - I think this operation is called "Project Lets Hope They Still Have Some Cardboard Cutout Tom Cruises In The Back Of The Stores As They Might Be Worth Something On Ebay".

Other lenders are keen to hold on to the debt - Music Week says hopefully in the belief that HMV can be saved; you suspect it's more about belief they can sell it on for more.

Apollo Global Management isn't entirely unfamiliar with the retail world. In 2006 Apollo paid USD1.3billion for struggling linen and things store Linens N Things. The expensive vote of confidence bought the chain just an extra 25 months of struggling.

1 comment:

Anonymous said...

What about OpCapita? They have done a great job with MFI and Comet!

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