Breaking news within the HMV saga continues, with Hilco (the restructuring specialist who also owns HMV Canada) announced as taking immediate control of HMV and their £200m debt (acquired from HMV’s lenders RBS & Lloyds).

Although Hilco don’t actually OWN HMV just yet, the deal gives them effective control ofthe retailer’s DVD and music catalogue.

Both Hilco and Deloitte have yet to make a public announcement on this, but we’ll be there to update once we hear anything more newsworthy!