HMV plans to buy six of the Fopp shops as well as its brand, following the retailer's collapse into administration last month.
The music chain is acquiring shops which were still profitable, while by picking up Fopp's intellectual property it can resurrect its online store; until the deal is done, HMV will run a site under the name foppreturns.com.
The rescue of shops in Glasgow, Edinburgh, Manchester, Nottingham, Cambridge, and Covent Garden in London leaves Fopp's administrators, Ernst & Young, with 75 more to sell - not as going concerns, given that HMV has the rights to the Fopp name and will use it for its six shops. Keeping the 25-year-old brand alive would preserve a "unique identity and trading culture", said HMV.
"These stores will operate independently of the main HMV chain in order to preserve their distinct customer offer. Fopp is well regarded by many music and entertainment consumers, enjoying strong local awareness and appeal, and we're pleased that we will be able to preserve the brand and product offer through the stores and online."
HMV said it would retain up to 70 Fopp jobs out of 800, and its shops would resume trading as soon as possible.
This coincided with HMV's announcement that it had sold its Japan business for £70m to DSM Investments catorce Co, a special purpose company owned by a joint venture between Daiwa Securities Group and Sumitomo Mitsui Financial Group.
HMV had long said it wanted to sell its chain of 62 Japanese stores and the hmv.co.jp website to focus on markets like the UK, where it has a leading position. In Japan, the HMV chain is number three entertainment retailer in market share.
