Music, film firms back HMV rescue

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.

Last week, workers in Cork, Limerick, Swords, and Tallaght began sit-ins after the 92-year-old firm went into receivership while owing its staff pay.

But on Saturday, staff secured a commitment they would be paid by the end of this week. This came from the receiver appointed to the Irish arm of HMV, David Carson of Deloitte.

The workers at Crescent Shopping Centre, Limerick, sent a tweet to supporters confirming their sit-in had ended.

“We have come to an agreement and we are getting paid. We have left the shop,” it said.

The workers said they hoped their jobs would be saved under a new management team.

They also thanked all those who had supported their campaign, including neighbouring businesses and staff who followed their lead in other HMV stores.

Efforts to save the company’s retail network in Ireland and Britain have been ongoing.

Last week, it was confirmed that the Game group was interested in acquiring some of HMV’s stores.

Yesterday, The Sunday Times reported that international music and film labels have offered incentives to any company that takes over the shops.

The suggested package has been put together by Universal Music, Warner Music, and Sony and could see a new company given attractive credit facilities if it can keep a sales presence on shopping streets.

It was said that the offer would also include the availability of cut-price CDs and DVDs to keep competition with online retailers alive.

A salvage company, Hilco, has been in talks with the administrators in Britain.

It already owns HMV Canada and has so far made a success of the business there.