Property News · May 31, 2019

HMV’s liquidation sale now unlikely as creditors opt to sell 100,000 records and DVDs by tender. The culprit? Hong Kong’s sky-high rents


HMV’s much anticipated liquidation sale is unlikely to happen now after the troubled retailer’s creditors on Friday decided to opt for a tender sale to clear out roughly 100,000 CDs, DVD, Blu-Ray discs and other remaining stock.They blamed Hong Kong’s famously high rents for the decision to call off what would have been the city’s largest liquidation sale in a decade. The plan now is to sell off the whole collection in one go to the highest bidder.“The creditors worried that a liquidation sale…

Source : South China Morning Post
Read more…HMV’s liquidation sale now unlikely as creditors opt to sell 100,000 records and DVDs by tender. The culprit? Hong Kong’s sky-high rents

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