It has been announced that HMV are planning on stepping away from the sale of electronics and will instead be started to focus on the sale of memorabilia under new plans designed to turn the chain’s luck around thanks to new owners Hilco.

This means that the high street chain will now be selling more things such as t-shirts and other music and film related memorabilia.

Hilco hopes that the decision will once again make HMV a profitable high street retailer.

Hilco rescued HMV in a £50 million deal last week which means that they will be saving 2,500 jobs at 141 stores right across the country.

The firm previously rescued HMV’s Canadian business and has since managed to boost sales and profits by abandoning the sale of video games in favour of more novelty items such as band branded clothing.

Paul McGowan who is chief executive of Hilco and now HMV’s chairman said: "We hope to replicate some of the success we have had in the Canadian market with the HMV Canada business which we acquired almost two years ago and which is now trading strongly."

HMV’s website was relaunched on Friday and promises visitors that "a new website and a fresh approach to our stores are all in the works".

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