“It takes the panic out of the situation”

Hilco buys HMV debt: business quote of the day.

Hilco has bought HMV's debt. Photograph: Getty Images

Retail restructuring group Hilco has bought HMV's debt - which had reached  £176m at the end of October - and now effectively has control of the company. (Hilco already owns HMV Canada). As a result, HMV's position has become more stable.

“It takes the panic out of the situation", one person told the FT.