Editing HMV (section)

===Administration (2013)===
[[File:HMV, Kirkgate, Wakefield (10th March 2013) 002.JPG|thumb|A branch in [[Wakefield]] closing as part of the group administration (March 2013). This store has since been occupied by [[Waterstones]].]]
On 15 January 2013, HMV Group appointed [[Deloitte]] as company [[Administration (law)|administrators]]<ref name="Deloitte UK">{{Cite news |date=15 January 2013 |title=Deloitte appointed administrators to HMV Group plc, HMV Music Ltd, HMV UK Ltd and Fopp Entertainments Ltd |publisher=Deloitte UK |url=http://www.deloitte.com/view/en_GB/uk/services/corporate-finance/93a34f0356f3c310VgnVCM3000003456f70aRCRD.htm |url-status=dead |archive-url=https://web.archive.org/web/20130125063946/http://www.deloitte.com/view/en_GB/uk/services/corporate-finance/93a34f0356f3c310VgnVCM3000003456f70aRCRD.htm |archive-date=25 January 2013}}</ref> and suspended [[Share (finance)|shares]],<ref name="propertymall.com">{{Cite web |title=Propertymall.com |url=http://www.propertymall.com/press/article/30727 |url-status=dead |archiveurl=https://archive.today/20130216162541/http://www.propertymall.com/press/article/30727 |archivedate=16 February 2013 |website=Propertymall.com}}</ref> putting its 4,350 UK employees at the risk of redundancy.<ref name="Deloitte UK" /><ref>{{Cite news |date=16 January 2013 |title=HMV music and film chain to appoint administrator |work=BBC News |url=https://www.bbc.co.uk/news/business-21021073 |access-date=16 January 2013}}</ref> Gift vouchers were initially declared void since holders are classified as unsecured creditors to whom the company owed the value,<ref name="Are your HMV gift vouchers worthless?">{{Cite news |last=King |first=Mark |date=15 January 2013 |title=Are your HMV gift vouchers worthless? |work=The Guardian |location=London |url=https://www.theguardian.com/money/2013/jan/15/are-hmv-gift-vouchers-worthless-administration |access-date=15 January 2013}}</ref> but were accepted again from 22 January 2013.<ref>{{Cite news |date=21 January 2013 |title=HMV will accept gift vouchers |work=BBC News |url=https://www.bbc.co.uk/news/business-21118711 |access-date=21 January 2013}}</ref>

Restructuring firm Hilco UK bought HMV's debt from its creditors [[The Royal Bank of Scotland]] and [[Lloyds Banking Group]], as a step towards potentially taking control of the company.<ref>{{Cite news |last=Simon Neville |date=12 March 2013 |title=Asda holds talks over possible bid for HMV |work=The Guardian |location=London |url=https://www.theguardian.com/business/2013/mar/12/asda-eyes-potential-hmv-bid |access-date=16 March 2013}}</ref> It was revealed that the total debt Hilco had bought amounted to around £110&nbsp;million,<ref>{{Cite news |last=Simon Bowers |date=15 March 2013 |title=Fopp suitors boost hopes of high street music stores revival |work=The Guardian |location=London |url=https://www.theguardian.com/business/2013/mar/15/fopp-suitors-music-stores-revival |access-date=16 March 2013}}</ref> and that HMV owed around £20&nbsp;million in tax to [[HM Revenue and Customs]] at the time of its entry into administration.{{citation needed|date=June 2020}}

On 31 January 2013, it was reported that 190 redundancies had been made at the head office and distribution centres.<ref>{{Cite news |date=31 January 2013 |title=BBC News HMV administrators announce 190 job losses |work=BBC News |url=https://www.bbc.co.uk/news/business-21276913 |access-date=1 February 2013}}</ref>

On 7 February 2013, Deloitte confirmed that 66 shops had been identified for closure.<ref>{{Cite web |date=7 February 2013 |title=Deloitte press release – Together "HMV" or "the Companies" – in administration – update |url=http://www.deloitte.com/view/en_GB/uk/news/news-releases/3bc052aa024bc310VgnVCM2000003356f70aRCRD.htm |access-date=7 February 2013 |archive-date=14 July 2014 |archive-url=https://web.archive.org/web/20140714160317/http://www.deloitte.com/view/en_GB/uk/news/news-releases/3bc052aa024bc310VgnVCM2000003356f70aRCRD.htm |url-status=dead }}</ref> No fixed date was given for the closures but they were expected to take place in the following two months. The next day, Deloitte confirmed that an additional 60 redundancies, including the chief executive Trevor Moore, had been made at the group's offices in London, Marlow and Solihull.<ref>{{Cite news |date=8 February 2013 |title=HMV boss Trevor Moore made redundant |work=BBC News |url=https://www.bbc.co.uk/news/business-21390535 |access-date=9 February 2013}}</ref> Deloitte confirmed on 20 February 2013 that an additional 37 shops would close.<ref>{{Cite news |date=20 February 2013 |title=HMV to close 37 more shops in UK |work=BBC News |url=https://www.bbc.co.uk/news/business-21517862 |access-date=21 February 2013}}</ref> On 26 February 2013, six shops were sold to supermarket chain [[Morrisons]].<ref>{{Cite web |last=Taylor |first=Gemma |date=26 February 2013 |title=Morrisons acquires 6 HMV stores |url=http://www.retailgazette.co.uk/articles/13134-morrisons-acquires-6-hmv-stores |access-date=2 September 2013 |website=Retail Gazette}}</ref>

On 28 February 2013, eight shops in Hong Kong and Singapore were sold to AID Partners Capital Limited and the operation then became independent from HMV Group that was bought by Hilco UK.  This transaction also enabled AID Partners Capital Limited to own the rights to use the HMV brand in Hong Kong, Macau, China, Taiwan and Singapore.<ref>{{Cite web|date=28 February 2013|title=BRIEF-Administrators to HMV sell Hong Kong, Singapore stores|url=https://www.reuters.com/article/hmv-brief-idUSWLA0076H20130228|access-date=10 November 2021|website=[[Reuters]]}}</ref>

By 23 March 2013, Deloitte was seeking to complete a deal to sell 120 shops as a going concern.<ref>{{Cite news |last=Graham Ruddick |date=23 March 2013 |title=Hilco in talks with suppliers about securing HMV deal |work=The Daily Telegraph |location=London |url=https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9950128/Hilco-in-talks-with-suppliers-about-securing-HMV-deal.html |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9950128/Hilco-in-talks-with-suppliers-about-securing-HMV-deal.html |archive-date=12 January 2022 |url-access=subscription |url-status=live |access-date=28 March 2013}}{{cbignore}}</ref> The decision to close several shops that had previously been identified for closure were reversed following talks with landlords.<ref>{{Cite news |last=James Ferguson |date=27 March 2013 |title=Stockport HMV given reprieve |work=Manchester Evening News |url=http://www.manchestereveningnews.co.uk/business/business-news/hmv-store-been-scheduled-closure-2013890 |access-date=28 March 2013}}</ref>