Music and video retailer Super Club N.V. will receive a $128 million investment from entertainment and consumer electronics giant N.V. Philips in the form of equity and convertible debt, according to published reports.

Philips previously owned 12% of Super Club and will henceforth own about 21%.

Super Club N.V. of Belgium is the parent of Super Club, North America, which operates about 450 retail stores in the U.S.

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