HMV no longer rules out a CVA to deal with problems
HMV has said it will not rule out a possible company voluntary arrangement (CVA).
The struggling music retailer had previously said it would not consider the action, which involves creditors accepting reduced terms and often involves landlords agreeing to store closures. Earlier this month HMV issued its third profit warning of the year. It is to close 60 shops and is trying to sell book chain Waterstones and its Canadian business. Its banks remain supportive.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies