HMV Canada is out with a release that states it is assessing different options for its future after a Reuters story asserted that the CD and DVD chain is looking to sell its Canadian operation.
"HMV Canada is currently reviewing suitable options as it moves forward with future growth plans," Monday's release states.
Very few details were offered up, but HMV did announce that it doesn't intend to withdraw "from its position as the number one entertainment retailer in the country." In other words, it looks like if a sale does occur, the operations will still exist and someone new will try to review the moribund chain.
Sky News has reported the saviour could be retail restructuring specialist Hilco.
HMV Canada is an arm of HMV Group, which has already issued two profit warnings earlier in 2011 and in March said it is on the verge of failing year-end debt tests.
Tim Kiladze