HMV receiver paid over €300,000 in fees and expenses over six months

The receiver to HMV Ireland has received over €300,000 in fees and expenses since the Irish arm of the retail music giant went out of business eight months ago.

The payments to appointed receiver, David Carson of Deloitte, based at Earlsfort Terrace in Dublin, work out at more than €2,300 per working day in the six-month period under review.

Documents just filed with the Companies Office show that Mr Carson has received €300,495 (ex VAT) in fees and expenses in the period from when HMV Ireland Ltd went into receivership on January 16th last to July 15th.

The music retailer closed with the loss of 300 jobs located in 16 shops around the country last January.

Four reopenings
Turnaround specialist Hilco is in the process of reopening four of the outlets, with two in Dublin at Henry Street and Liffey Valley Shopping Centre and the Crescent Shopping Centre in Limerick opening this week and a fourth in Dundrum Town Centre scheduled to open later this month.

The receiver's extract lodged by Mr Carson shows a list of payments that includes €26,528 to the Sunni Mae Trust – money owed from the sale of the single Tiny Dancer to fund health expenses for four-year-old Galway girl Lily Mae Morrison, who is fighting a rare and aggressive form of cancer.

The document shows that payments of €1.175 million had been made in the six-month period, including €487,574 to former staff of the retailer. The extract shows that €79,913 has been paid out in legal fees and expenses. VAT on receiver and legal fees totalled €87,107.

Mr Carson was not available for comment yesterday.