February 5, 2019 / 7:49 AM / 19 days ago

UK music retailer HMV sold to Canada's Sunrise Records

The logo of British music retail chain HMV is seen lit above its branch on Oxford Street in London January 14, 2013. REUTERS/Chris Helgren/File Photo

LONDON (Reuters) - HMV, the British music retailer that collapsed after Christmas, has been sold to the owner of Canada’s Sunrise Records in a deal that will save 100 stores and 1,487 jobs, its joint administrators said on Tuesday.

Sunrise Records CEO Doug Putman said he was delighted to acquire “the most iconic music and entertainment business in the UK”, and would aim to replicate his company’s success in Canada.

The administrators said 27 stores were not included in the deal and would close immediately, resulting in 455 redundancies.

Reporting by Paul Sandle; editing by Kate Holton

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