HMV has been acquired out of administration by Canadian retailer Sunrise Records, safeguarding the future of nearly 1,500 staff in the UK. HMV has been acquired out of administration by Canadian retailer Sunrise Records, safeguarding the future of nearly 1,500 staff in the UK. Sunrise, which is owned by Doug Putman, beat off competition from the likes of Mike Ashley for the stricken retailer and will acquire 100 stores across the UK. Mr Putman said: "We are delighted to acquire the most iconic music and entertainment business in the UK and add nearly 1,500 employees to our growing team. HMV became the first high street casualty after Christmas when its then owner Hilco called in corporate undertakers in December.

Source: Irish Independent February 05, 2019 08:34 UTC