HMV: Where did it all go wrong?
5 April 2013 Last updated at 12:55 BST
Restructuring specialist Hilco has clinched a deal to rescue music and DVD retailer HMV, which collapsed in January.
Hilco, which already owns HMV Canada, said it had acquired 132 HMV shops and all nine branches of the Fopp chain in a deal that could save 2,500 jobs.
The BBC's Ben Thompson has this analysis of where things went wrong for the music retailer.