HMV returns to 363 Oxford Street
Transcription
HMV returns to 363 Oxford Street
Newsletter HMV returns to 363 Oxford Street Q3 2013 Nipper finds his way back to Ireland HMV kicked off its return to the Republic of Ireland in September following the closure of all stores in the receivership of the old business in January 2013. The Henry Street store in Dublin opened its doors in a triumphant comeback that saw chart topping Irish rockers The Strypes (pictured) perform live in store for eager shoppers. The opening followed weeks of anticipation in the city as banners on the Entertainment retailer HMV opened a new flagship store at 363 Oxford Street, London at the end of September, in the same location that the company’s first store was opened by Sir Edward Elgar in 1921. Featuring a stunning recreation of the original ‘His Master’s Voice’ neon signage, the refurbishment and fit out of the new store was managed by HRPS, Hilco’s property business, in just six weeks. 363 Oxford Street famously played a significant role in landing The Beatles a recording contract when Brian Epstein used HMV’s in store studio to cut the band’s hitherto unsuccessful demo tapes to disc. Word of the recordings got back from the store to HMV’s then owner, EMI, ultimately resulting in Sir George Martin signing the band. A blue plaque, unveiled by Sir George when HMV moved out of number 363 in 2000, commemorates the remarkable history of “The world’s most famous music store”. A high profile event in October, which will be covered in full in the Q4 Hilco Newsletter, saw the story come full circle as Beatles legend Sir Paul McCartney made a special appearance at 363 to officially relaunch the store and sign copies of his new album. The event is one of over 150 in store performances and autograph signings since p2 ➤ www.hilcocapital.com shuttered store featuring HMV’s canine mascot, Nipper, and the slogan ‘He’s found his way home’ struck an emotional chord with Dubliners. HMV Ireland has since opened a further four HMV stores in a blaze of promotional activity and celebrity appearances. An additional HMV store, 28 dualbranded Xtra-vision/HMV stores and an hmv.ie transactional website will open in October. Newsletter ➤p1 Hilco acquired HMV that have seen acts as diverse as Beady Eye, Demi Lovato, Vamps, Lawson, Manic Street Preachers, Giggs and Glasvegas come face to face with fans in HMV stores. The dramatic ramp up in the number of events on an ongoing basis will be closely tied into HMV’s digital and social activities to provide customers with unique access to the entertainment industry in ways that other retailers of entertainment products, such as ‘pure play’ online operators and supermarkets, are unable to. October will also see the business launch an innovative new digital music store and mobile app, a brand new, content-focused website and refreshed branding to reflect the re-energised and revitalised HMV, together with a new tagline – Home of Entertainment. The neon-styled branding and new tagline run across in store POS, the web, social media and TV, print and out of home advertising through the fourth quarter, debuting on ITV1 in October. Kraus rolls out the red carpet for TIFF Kraus Group was the official red carpet sponsor of the 2013 Toronto International Film Festival in September. The world renowned film festival, ranked in the same league as Cannes, Venice and Berlin, attracted stars such as Brad Pitt, Michael Fassbender and Nicole Kidman to the Roy Thomson Hall in Toronto. Kraus provide carpet for the VIP Red Carpet Lounge and the company’s CEO, Steve Malinowski (pictured above with his wife Ruth), used the Lounge to host events for key customers. The third quarter of 2013 also saw Kraus Group pass two more significant milestones in the company’s turnaround since it was acquired by Hilco Capital (trading in Canada as Re:Capital) in June 2012. In August, Kraus secured a CAD $50 million funding line with Wells Fargo Capital Finance, on the back of a strong first half performance that saw carpet sales up 2% and the business return to profitability. In September, the company appointed Dave Mumford as President of its US division, Kraus USA. Based in Clarion, Pennsylvania, Kraus USA’s sales and distribution operations service over 7,500 retail dealers across the United States. Having started as a territory sales representative and been promoted through the ranks during his ten year career at Kraus USA, Mumford is ideally placed to take the US business to the next level. Clipper Marine breaks Boat Show record presence this year reflects a gradual return of confidence to the market – a fact which was borne out by record breaking sales which saw the awardwinning Clipper Marine team trounce their competitors. Clipper Marine’s stand at this year’s Southampton Boat Show, which took place in September, was the company’s biggest ever with 11 Bavaria sail and power boats on show. Clipper’s increased 2 Hilco Capital Newsletter Q3 2013 Sales from the event exceeded £3.5 million with 15 boats sold at the show itself and a further four the following week, made up of a complete cross section of Clipper’s range, from 29 to 42 foot power boats and 33 to 46 foot sail boats. To browse Clipper’s range of new and used boats, visit www.clippermarine.co.uk. www.hilcocapital.com Newsletter Drake meets home crowd XV rescues charity cash Xtra-vision has long supported Irish Autism Action and its work in raising the quality of life of people with autism and their families. The charity is backed by a number of high profile Irish celebrities including Niall Horan from One Direction and Keith Duffy of Boyzone (pictured below) and Laurence Kinlan from Irish TV drama Love/Hate (pictured above HMV Canada welcomed hip hop superstar Drake back to its Queen Street West store in September. The Toronto-born rapper, actor and producer, real name Aubrey Drake Graham, signed copies of his worldwide platinum-selling album Nothing Was the Same for 300 fans, many of whom had camped outside the store overnight. HMV expanded its Canadian store portfolio in September with a new opening in Fort McMurray, Alberta. The store is already trading ahead of expectations. Additionally, HMV is relocating its store at the Rideau Centre to an improved unit and will open six seasonal HMV Express pop up stores in key locations across Canada in October. Xtra-vision hit the headlines in September when the company, with the support of Hilco Capital Ireland, stepped in to reimburse €20,000 owed to Irish Autism Action. The funds were under threat due to the receivership of the old Xtravision business prior to Hilco’s involvement. with Kevin Whelan, CEO of Irish Autism Action and Larry Howard, CEO of Hilco Capital Ireland). James Martin visits Denby New starters join Hilco The popular Saturday Kitchen host and restraunteur has his own Denby range – James Martin Everyday – which is available along with a host of Christmas gift and entertaining ideas, from cake stands to premium cast iron cookware, on Denby’s website. TV chef James Martin returned to the Denby Visitor Centre in September for a day of live cookery demonstrations. www.hilcocapital.com Receive an extra 10% off at www.denby.co.uk by entering HILCO10. This discount code is available until 20/12/13. Hilco Capital welcomed two new employees to our Investment Team at the end of September. Adam Gordon and Nick Kitchin both joined the team as Investment Analysts. valuations space. Adam is a Chartered Accountant and since 2010 worked in the financial modelling team at EY. He brings a wealth of experience of financial modelling in a transactional and business Nick has over six years’ insolvency experience and has worked on a number of trading administrations and independent business reviews of stressed and distressed companies. Nick is a Chartered Accountant and since 2010 has worked for EY in their restructuring team based in London. Hilco Capital Newsletter Q3 2013 3 Newsletter Twice2much wins new clients MIG wins Data Services award The Marketing Innovation Group was voted the 2013 Best Data Services Provider at the ECMOD DC Live Supplier of the Year Awards in London in September. MIG was one of nine special category winners out of 300 nominations. Twice2much won a number of significant new contracts in the third quarter. Following previous successful reviews for Travis Perkins, the FTSE 100 listed builders merchant and home improvement retail group appointed Twice2much to conduct a discounts and rebates review. Balfour Beatty Rail signed up Twice2much to carry out a full accounts payable review while, in the public sector, the Forestry Commission and Camden Council called on the Twice2much’s duplicate payments review services. Unlike other awards, ECMOD DC winners are nominated voluntarily by clients who believe that they have delivered excellent services. NEWS FROM ACROSS THE POND friendly interface. In coming months, all of the business unit websites will be converted to the new brand look and will also feature improved content and the new, simpler navigation. Hilco Real Estate announced the completion of the Old HB, Inc. (fka Hostess Brands, Inc.) asset sale, a transaction awarded in December 2012. The new Hilco Global corporate website is now live, reflecting the updated brand look and brand focus and clearly communicating Hilco’s position as the world’s leading authority for valuation, monetization and advisory solutions. The site also includes new digital features and navigation tools to help customers learn as much as possible about Hilco Global in a user The completed transaction yielded $62.5 million for 140 properties, machinery and equipment, and thousands of trucks. The real estate, consisting of bakeries, depots, distribution buildings, and retail outlet locations, was spread across 34 states. It was sold to investment firm, Hackman Capital Partners, LLC based out of Los Angeles. Hilco Real Estate was the exclusive national disposition agent for the sale. Hilco Streambank is holding its second multi-asset premium domain name auction in October, selling desirable web domains including DL.com, tweeter.com, magicbooks. com, sleeppartners.com and row.com. The domain auction will be conducted on Hilco Streambank’s recently updated proprietary online auction platform at hilcodomains.com. Hilco Streambank has also been retained in the Colorep bankruptcy to sell the enterprise. The company, which has a proprietary system for printing on or dyeing synthetic textiles without the use of water, sells to textile companies who perform the colour transformation. Those companies sell in turn to customers including international apparel brands such as Victoria’s Secret, Asics and H+M. Hilco team top of their group at St George’s Park Hilco Capital beat ABN Ambro, HSBC, SME and HPD Software and drew with RBS to qualify top of the group stages of the annual ABFA five-a-side football tournament at England’s training ground, the National Football Centre, at St George’s Park. The impressive statistics were: played 5, won 4, drew 1, scored 15, conceded 3. The side, captained by Matt Holt, had previously beaten Zolfo Cooper 16–8. In the quarter finals, Hilco faced KPMG who took a deserved early lead and it was apparent that a lack of strength in depth was starting to cause Hilco problems as KMPG fielded fresh legs. The game ended Hilco 2 – KMPG 4. Anyone wishing to arrange a five-a-side game should contact Matt Holt [email protected]. Published by Hilco Capital Limited, 80 New Bond Street, London W1S 1SB · Tel (0)207 317 2050 · Fax (0)207 317 2051 · © 2013 Hilco Capital Limited · All rights reserved 4 Hilco Capital Newsletter Q3 2013 www.hilcocapital.com
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