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 ➤
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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
matthew.holt@hilcouk.com.
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
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