The future of the HMV store in High Street, Leicester, has been secured after a new buyer was found for the chain.
Retail restructuring business Hilco has bought the HMV brand and some of its assets from administrators Deloitte, protecting around 2,500 jobs.
The business includes 141 stores, 25 of which had previously been slated for closure by the administrators.
The Leicester High Street store has continued trading despite the cloud over its future since the chain announced financial difficulties at the start of the year.
The HMV store in The Rushes, Loughborough, closed last month with the loss of eight jobs.
Hilco chief executive Paul McGowan said: "We have spent a number of weeks negotiating revised terms with landlords and the key suppliers to the business, all of whom have been supportive of our plans to maintain an entertainment retailer on the high street.
"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.
"The structural differences in the markets and the higher level of competition in the UK will prove additional challenges for the UK business but we believe it has a successful future ahead of it."
The HMV UK business will initially be led by a Hilco team working alongside existing management.
The Hilco team will be led by Ian Topping, formerly chief executive of the Steinhoff retail group in the UK, whose brands include Harvey's Furniture and Bensons Beds.
Mr Topping said: "This is an exciting investment for the Hilco team and we will be able to use some of the developments already progressed in Canada to restore HMV to health.
"We intend to reverse the earlier decisions to sell tablets and other devices in the stores and to reclaim the space for an enhanced music and visual range."
"The reaction of the British public to the administration of HMV shows a strong desire for the business to continue to trade and we hope to play a constructive part in delivering that."
