Turnaround special Hilco hails growth of music retail chain it bought out of administration last year
HMV is poised to reclaim the title of Britain’s biggest entertainment retailer less than 18 months after it was saved from oblivion by the turnaround specialists Hilco.
The high street stalwart will surpass Amazon as the biggest retailer of CDs and DVD in the near future, according to its chairman Paul McGowan, chief executive of Hilco, who was quoted in the Mail on Sunday.
He said: “It’s only a matter of time before we overtake Amazon.
“HMV is re-engaging with music shoppers and getting them back into shops. This is about being an authority in music, not selling music as a commodity.”
Mr McGowan said HMV had been profitable for Hilco “since day one” of the takeover, which in recent years has also preyed on Habitat and Clinton Cards.