HMV to return to online trading for the first time since closure

Music retailer HMV are set to return to the digital sales market and online trading, the first time since entering administration in 2013.

In April 2013, Hilco UK announced that it had acquired the company out of administration, following the collapse of the HMV Group in January of the same year. Since then, customers have been able to purchase in store only, with the company website acting as a more editorial focused page.

Announcing profits of £17 million recently, HMV also beat competition from Amazon to become the UK’s biggest retailer of physical music. According to The Telegraph, a new retail website will launch within the next few weeks, with chief executive Paul McGowan quoted as saying, “We are careful that we don’t want to overcook it but there is a large potential for the UK website to lift the business. “People are switching from downloads to streaming music, so digital is eating digital but physical music sales are recovering.”

Read more via The Telegraph here.