LONDON - Canadian retailer Sunrise Records is pulling stricken retailer HMV out of bankruptcy in a deal that will safeguard some 1,500 jobs. British-owned HMV has been acquired out of administration by Canadian retailer Sunrise Records, it is announced Tuesday Feb. 5, 2019, safeguarding the future of nearly 1,500 staff. ( Frank Augstein / Associated Press file pohoto )Sunrise Records will acquire 100 stores across the United Kingdom, and 1,487 stores and head office employees will transfer as part of the transaction. The stores will continue to operate as HMV, with four stores continuing under the Fopp banner. “We are delighted to acquire the most iconic music and entertainment business in the UK,” Sunrise Records chief executive Doug Putman said in a statement.

Source: thestar February 05, 2019 13:41 UTC