Hilco UK is buying bankrupt HMV Group plc’s retail business, which includes 141 retail stores.
The move will save 2,643 jobs, according to Nick Edwards, joint administrator from Deloitte LLP. Rob Harding and Neville Kahn are also joint administrators for the case.
The London-based company sells films, games, music and digital technology products out of stores across the U.K.
In January, Hilco Consumer Capital reportedly paid about $190 million for $279 million in HMV’s debt. The debt was held by a consortium of banks led by Royal Bank of Scotland and the Lloyds Banking Group, according to reports.
Hilco bought HMV’s Canadian operations for $3.3 million in 2011.
HMV filed for administration, the U.K.’s equivalent to Chapter 11 bankruptcy protection on Jan. 15, after it failed to obtain additional financing.
It listed Amazon.com Inc. (Nasdaq: AMZN), Live National Worldwide Inc. and other mass-merchant retailers as its largest competitors on its website. HMV, which stands for His Master’s Voice, was delisted from the London Stock Exchange on Jan. 15, where it had been publicly listed since 2002.