Dive Summary:

• American restructuring firm Hilco has announced the purchase of all nine branches of the Fopp chain and 132 shops of iconic UK retailer HMV.
• Hilco currently owns HMV Canada and the deal is reported to be worth 50 million pounds (75.7 million) and says it intends to revive the media store chain.
• The recent trend of digital downloading by consumers has led to a decline in media entertainment sales such as CDs and DVDs for the retailer, reflecting the recent trend toward online shopping.

From the article:

"The 92-year-old iconic retailer, famous for its Nipper the dog trademark, has seen music and film purchases through CDs and DVDs suffer from the uptake of digital downloads. It has also hemorrhaged sales to supermarkets and cheaper, more convenient online retailers like Amazon.com Inc (AMZN)."