Hopes over the future of collapsed music chain HMV were raised today after its debt was bought by the restructuring business behind HMV Canada.

HMV stores in Ireland will remain closed and will not honour gift vouchers despite them now being accepted in Britain.

As HMV staff await wages they have been promised, it has been reported that major media companies will offer support to any buyer willing to rescue the ailing retailer.

Music labels and film studios are reportedly planning to throw their weight behind a rescue deal for collapsed retailer HMV.

Retailer Game has confirmed it is among 50 potential suitors circling collapsed music entertainment chain HMV.

Entertainment group HMV insisted today that it still has a future – despite reporting a further drop in sales in the run-up to Christmas.

The boss of struggling entertainment group HMV today vowed to press on with plans to overhaul its technology offering as he reported another plunge in sales over the summer.

Beleaguered retailer HMV took another step in its restructuring today by announcing a deal to sell its 121 stores in Canada.

Embattled retailer HMV Group said today that it had secured more time in its battle for survival, despite issuing a third profits warning this year.

A Canadian music retailer has refused to stock Alanis Morissette's records in protest at an exclusivity agreement with the coffee giant Starbucks.