100 HMV stores have been saved

The majority of the chain has been acquired by Doug Putman, owner of Canadian music chain Sunrise Records.

HMV has been - in the most part - saved!

100 stores from the chain have been acquired by Doug Putman, owner of Canadian music chain Sunrise Records.

His bid beat a rival offer from Sports Direct and underfunding the transfer activity of Newcastle United's Mike Ashley, and a management buy out.

It's the second time Putman has stepped in to rescue HMV stores, after previously taking on a number of Canadian outlets to expand the Sunrise chain.

He'll keep 100 stores open under the HMV name, with four Fopps remaining. 27 stores were not acquired, and will close immediately with 455 redundancies.

HMV has been - in the most part - saved!

100 stores from the chain have been acquired by Doug Putman, owner of Canadian music chain Sunrise Records.

His bid beat a rival offer from Sports Direct and underfunding the transfer activity of Newcastle United's Mike Ashley, and a management buy out.

It's the second time Putman has stepped in to rescue HMV stores, after previously taking on a number of Canadian outlets to expand the Sunrise chain.

He'll keep 100 stores open under the HMV name, with four Fopps remaining. 27 stores were not acquired, and will close immediately with 455 redundancies.

100 HMV stores have been saved

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100 HMV stores have been saved

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