HMV offloads Hammersmith Apollo

Stat of the day: £32m - What HMV got for the Hammersmith Apollo

by
Last Updated: 09 Oct 2013
Hammersmith Apollo, the Historic London venue which has housed acts from The Beatles and Queen to David Bowie, has been sold to an American-German joint venture for £32m.

The 9,000-capacity venue, which opened as a cinema in 1932, was taken over by HMV in 2010. The firm’s decision to sell it two years later is part of a wider turnaround for the troubled retailer, which has faced falling sales on the high street. Selling the Hammersmith Apollo will allow HMV to extend its £220m bank loans until the end of September 2014, as it concentrates on its retail business. But will it be enough?

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