Five questions answered on the HMV rescue deal

Hilco steps up.

It has been announced today that high street entertainment store HMV has been rescued from closure at the last minute. We answer five questions on the deal that saved the popular chain of stores.

Who has rescued HMV?

Hilco, a restructuring specialist who already owns HMV Canada, has struck up a deal to buy the business, acquiring 132 shops.

No official purchase figure has been announced, but the chain is believed to have been sold for around £50m.

What does this mean for the retail chain and its employees?

It means that the UK’s last surviving national music retailer – that collapsed in January – will remain open, saving around 2,500 jobs.

Is Hilco expected to make any changes to the brand?

As it’s early days not much is known, except that Hilco plans to have its own people working alongside existing HMV management in the new set-up and that the company will be led by Hilco executive Ian Topping, former chief executive of the furniture retail group Steinhoff in the UK.

Mr Topping said he hopes to replicate the success Hilco have had with HMV Canada, which the company purchased two years ago.

What has Hilco said about the deal?

Mr Topping told the BBC: "The structural differences in the markets and the higher level of competition in the UK will prove additional challenges for the UK business, but we believe it has a successful future ahead of it."

What have other high street experts said?

Partner at advisory and restructuring firm, Zolfo Cooper, Peter Saville told the BBC:

"Hilco understands the market well and is a seasoned High Street veteran. The news that HMV is to continue trading will also be welcomed by suppliers, as an over-reliance on online channels may be uncomfortable."

Photograph: Getty Images

Heidi Vella is a features writer for Nridigital.com

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Labour MP Sarah Champion resigns over grooming gang piece in The Sun

The shadow equalities minister is standing down after her controversial article sparked accusations of racism.

Sarah Champion has resigned as shadow equalities minister over her incendiary article about grooming gangs in The Sun.

The Labour MP for Rotherham caused controversy by writing a piece about the Newcastle paedophile ring, which the tabloid headlined: "British Pakistanis ARE raping white girls... and we need to face up to it".

This sparked accusations of racism, including from figures in her own party. Naz Shah, the Labour MP for Bradford West, wrote in the Independent“Such an incendiary headline and article is not only irresponsible but is also setting a very dangerous precedent and must be challenged.”

Champion initially tried to distance herself from how the article was framed, claiming that the opening paragraphs were edited and "stripped of nuance". The paper, however, said her team approved the piece and were "thrilled" with it.

In her resignation statement, Champion apologised for causing offence: “I apologise for the offence caused by the extremely poor choice of words in the Sun article on Friday. I am concerned that my continued position in the shadow cabinet would distract from the crucial issues around child protection which I have campaigned on my entire political career.”

“It is therefore with regret that I tender my resignation as shadow secretary of state for women and equalities.”

In a comment decrying The Sun's general Islamophobia-inciting coverage, the Labour leader Jeremy Corbyn warned against "attempts to brand communities or ethnic or religious groups, wittingly or unwittingly".

Anoosh Chakelian is senior writer at the New Statesman.