HMV's administrators to close 66 shops at music chain
Thursday 07 February 2013
HMV's administrators are to close 66 shops at the music chain in a move set to cost nearly 1,000 jobs.
Deloitte said the shops would continue to trade but the closures were expected over the next one to two months.
Administrator Nick Edwards said the shops had been identified as part of an ongoing review of the company's financial position and the group still hoped to secure a future for the restructured business.
He said: "This step has been taken in order to enhance the prospects of securing the business' future as a going concern.
"We continue to receive strong support from staff and are extremely grateful to them for their commitment during an understandably difficult period."
The group, which currently has 220 UK stores, called in the administrators last month, but hopes of a rescue deal have been raised after restructuring firm Hilco - the group behind HMV Canada - bought the company's debt.
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
Nigel Farage on Have I Got News For You: Ukip leader ridiculed over expenses and party 'fruitcakes'
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
- 1 Poveglia: 'World's most haunted island' up for auction...is anyone brave enough to buy it?
- 2 Big Bang Theory to get special Star Wars episode with help from Lucasfilm
- 3 Pharrell Williams 'Happy': British Muslims dance to song in video
- 4 24 people applied for the 'world's toughest job', here are their interviews
- 5 Scientists warn we've hit 'peak beard': The more people grow facial hair, the less attractive it is