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Restructuring Firm Hilco Understood To Want To Buy Jessops And Stock Cameras In HMV Stores

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Hilco, the restructuring firm which bought HMV's debt, could also take over Jessops, stocking cameras in HMV stores | Alamy

Could we see two of the high street's retail failures rescued in one week?

Retail Week has reported that Hilco, the restructuring firm which bought HMV's debt earlier this week, is the current front runner to acquire camera chain Jessops, which fell into administration at the start of the year.

In addition, Hilco is apparently considering putting camera concessions into HMV's stores.

The Huffington Post UK attempted to reach Deloitte, the administrators for HMV, for comment, but was told that it was not willing to comment on "market speculation".

PricewaterhouseCoopers, the acting administrator for Jessops, was also unable to comment directly on the story, but Rob Hunt, Jessops' joint administrator and PwC partner, told the Huffington Post UK: "We have a number of people interested in the brand but we will not disclose or confirm individual parties as this is confidential information."

On 11 January, all of Jessops 187 stores were closed by PwC shortly after it moved in as administrators for the stricken retailer, putting 1,370 jobs in jeopardy. HMV fell into administration just four days later.

The Huffington Post UK also reported last week that a group of pop-up experts is in talks with Deloitte and PwC in a bid to re-open hundreds of the now defunct stores to help home-grown British businesses for a short period.

The newly-formed PopUp Forum includes Dan Thompson from the Empty Shops Network, Emma Jones, from national enterprise campaign StartUp Britain and Nick Russell from We Are Pop Up.

Emma Jones said in a press release: "We're working with the administrators' lawyers to contact landlords and take control of a percentage of the newly-closed shops, with a view to offering affordable retail spaces to small and start-up British retail businesses, on a rolling basis.

"Last year may have been a bad year for big retailers, but it was a record year for British start-ups. Our local high streets are in trouble - and yet what small retail business wouldn't give their right arm for the chance to trade in their own communities, generating sales and awareness of their brand?"

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Around the Web

Hilco buys HMV debt and throws it possible lifeline - The Independent

HMV: Hilco Throws Lifeline To Retail Chain - Yahoo! Finance UK

HMV debt bought by Hilco, gives ailing firm wiggle room | CNET UK

Jessops: Hilco in talks over buying brand

Hilco buys HMV debt and throws it possible lifeline

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