HMV is a 92-year-old music retailer which in January 2013 sought protection from creditors, after seeing its core businesses selling compact discs and digital video disks eroded by online competitors like Apple’s iTunes and Amazon.com. Known worldwide for its ‘Nipper the dog’ trademark, its first store on London's Oxford Street was opened by English composer Edward Elgar in 1921.
Kelvin Wu and his colleagues at AID Partners were quick to identify the potential of acquiring the Hong Kong and Singapore shops of the failed music and video retailer HMV.
Like other entrepreneurs, they apparently see opportunity arising out of failure.Monday, 18 March, 2013, 2:13am
The new owner of the Hong Kong and Singapore outlets of the iconic British music retail chain HMV has two targets: to acquire more local rivals and to compete with Apple's iTunes store on the internet.11 Mar 2013 - 12:11pm
AID Partners Capital, a Hong Kong-based buyout firm focusing on the entertainment and media industry, has bought HMV's businesses in Hong Kong and Singapore as well as operating licences for mainland China.1 Mar 2013 - 5:50am
The HMV chain of music shops may be thrown a lifeline by Sir Elton John after it emerged that the singer plans to perform in one of the company's British stores. He has suggested that big artists could play a role in keeping Britain's last major music retailer on the high street by playing a series of in-store gigs.21 Feb 2013 - 2:59am
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Like a vulture, I swooped through the doors of the HMV shop, ready to devour any clearance specials that might be on offer. Alas, my presumption that the British entertainment retailer's filing for bankruptcy last Tuesday in London would have early knock-on effects in Hong Kong was unfounded.22 Jan 2013 - 4:53am 1 comment
Recently Money Post wrote about the terrible value of gift vouchers ("Bottom of the deck", December 31). We were surprised, however, to see our views so quickly validated by news that music retailer HMV is under administration, a form of bankruptcy.22 Jan 2013 - 1:31pm
The British chain, one of Hong Kong's biggest music, DVD and game retailers, went into administration in a last-ditch effort to prevent collapse as it risked breaching its bank loan agreements. The financial problems could affect 4,350 staff worldwide - but there were bargains galore for local shoppers, with DVD prices slashed to as little as HK$20.
20 Jan 2013 - 5:30am
There was a time when video and music shops were venerable cultural institutions, places to get an entertainment fix, catch up with like-minded souls or just to browse the shelves for some down time. Back in the day - for Hong Kong, the best of times were the 1990s - the stores were big, the laserdisc was king, CDs abounded and customers were many. There was always a long line at the checkout.17 Jan 2013 - 10:14am
Uncertainty over HMV's fate in Hong Kong has dealt yet another blow to the already troubled local music industry.
The 92-year-old British music and DVD retailer announced in London on Monday that it would enter administration, a form of bankruptcy, and it remains unclear what will happen to its six branches in Hong Kong.17 Jan 2013 - 11:35am 3 comments
The fate of HMV's six Hong Kong shops hangs in the balance after the British music and DVD retailer said yesterday it was seeking help to save it from collapse.
The crisis may also affect gift vouchers already in circulation, with staff telling customers in Hong Kong that these would remain valid only "until yesterday".16 Jan 2013 - 9:39pm 1 comment