Dentons Europe’s London office has completed the purchase of the business of the HMV Group by its client, Hilco. Hilco is a retail structuring specialist and HMV is the largest British entertainment company and last surviving national music retailer. The deal is estimated to save 2,500 jobs across the UK and involves at least 140 stores.

HMV went into administration in January 2013 after the company’s suppliers declined to provide financing to pay off bank debts. HMV had been struggling as a result of competition from online rivals, supermarkets and illegal downloads.

Hilco bought the secured syndicated debt in HMV Group in January 2013 (with the assistance of the Dentons Europe London office) after the company had fallen into administration.

Hilco, which bought HMV Canada in 2011 in a deal on which the Dentons Europe London office also advised, is hoping to replicate its Canadian success in the UK.

The Dentons Europe team was led by Corporate Partner, Jonathan Polin. He was supported by Banking & Finance Consultant, Alison Gaines; IPT&C Partner, Tatiana Kruse; Employment Partner, Michael Bronstein; Real Estate Associate, Donna Attar; Banking & Finance Associate, Adam Jones; Corporate Associate, Christopher Winn; and Corporate Trainee, Jane Altschuler. Real Estate Associate, Richard Benson; RRI Trainee, Kathrine Chase; and RRI Senior Associate, Helen Anderson also provided support.

http://www.dentons.com/whats-different-about-dentons/connecting-you-to-…{795C5783-C2B0-4CDA-9D66-FB9DA623D578}&Archive=False