HMV, the struggling music and video store, is trying an inventive addition to business — a live music venue in the basement. All of this is occurring at the HMV on downtown Yonge St. not far from the roots of the retail music industry of the 60s, 70s and 80s. HMV Underground is an intimate (cave-like?) 140-person space. Managers say they hope to produce at least one performance a week. HMV is now owned by Hilco U-K which bought the 87-year-old retailer out of bankruptcy last year. HMV evokes its very old past with the words behind its name — His Master’s Voice was the motto given to the lifelike sound to be heard in the earliest phonograph recordings. HMV is said to need to get people into the store. Free music might do it. The company has shrunken in recent years. Recently, the large HMV in Eglinton Square closed. On 15 January 2013, HMV Group entered administration. Deloitte were appointed to deal with the administration of the company. On 16 January 2013, HMV Ireland declared receivership, and all Irish stores were closed. A week later, on 22 January 2013. On 5 April 2013, HMV was bought out of administration by Hilco UK for an estimated $150 million. 
