Partner Article

HMV announce 930 job losses

Music retailer HMV has confirmed 66 of its stores will close, following its entrance into administration last month.

The closures will result in the loss of 930 jobs in towns and cities countrywide, including Teesside, Manchester, Edinburgh and Birmingham.

No date has been scheduled for the closures, and trading will continue in the interim period and HMV’s remaining 154 shops will remain open.

Nick Edwards, joint administrator from Deloitte, commented: “As part of our ongoing review of HMV’s financial position, we have now completed a review of the store portfolio and have identified 66 loss making stores for closure.

“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.

“All other key stakeholders remain very supportive and I continue to be hopeful of securing a future for the restructured business.”

This was posted in Bdaily's Members' News section by Miranda Dobson .