HMV

About

the home of entertainment since 1921

Story

HMV Retail Ltd, formerly HMV Group plc, is a British entertainment retailing company operating in the United Kingdom and the Republic of Ireland. It was listed on the London Stock Exchange and was a constituent of the FTSE Fledgling Index. The first HMV branded store was opened by the Gramophone Company on Oxford Street in 1921, and the HMV name was also used for television and radio sets manufactured from the 1930s onwards. The retail side of the business began to expand in the 1960s, and in 1998 was divested from EMI, the successor to the Gramophone Company, to form what would become HMV Group. The Chief Executive Officer (CEO) prior to administration was Trevor Moore; he replaced Simon Fox on 3 September 2012.

HMV stands for His Master's Voice, the title of a painting by Francis Barraud of the dog Nipper listening to a cylinder phonograph, which was bought by the Gramophone Company in 1899. For advertising purposes this was changed to a wind-up gramophone, and eventually used simply as a silhouette.

Acquisitions by the HMV Group have included Waterstone's in 1998 from W H Smith[6] (sold in 2011), the music retailer Fopp in August 2007, and selected Zavvi retail outlets in February 2009. The group branched out into live music venue management in 2009 by purchasing MAMA Group, though sold the group in December 2012.

On 15 January 2013, HMV Group entered administration. Deloitte were appointed to deal with the administration of the company. On 16 January 2013, HMV Ireland declared receivership, and all Irish stores were closed. A week later, on 22 January 2013, it was reported that Hilco UK would buy the debt of HMV, a step towards potentially taking control of the company. The sale of HMV's Hong Kong and Singapore business to private equity firm Aid Partners was completed on 28 February 2013. On 5 April 2013, HMV was bought out of administration by Hilco UK for an estimated £50 million.