Music labels and other entertainment suppliers are backing HMV with more than £40m of funding in the run-up  to Christmas.

That's according to The Telegraph, which reports that the financial boost is in addition to other measures secured last year between HMV and its suppliers in order to keep th retailer stable.

It says HMV has secured greater access to music and film suppliers’ back catalogues and is buying stock on consignment - i.e. only paying for the stock ...