This site uses cookies; by continuing to use our site you agree to our use of cookies. More details in our privacy policy. Close

 

 

66 HMV stores to close, warns Deloitte 7 February 2013

Administrators for HMV Group have confirmed they are closing 66 of the group’s stores today, affecting some 930 staff.

Nick Edwards, joint administrator of the HMV Group, HMV Music and Fopp Entertainments Ltd, said no set date has yet been drawn up for the closure of these stores and they will continue to trade in the meantime.

In a statement issued to the media, Deloitte said it is expected that closures will take place over the next one to two months. HMV currently operates from 220 stores in the UK.

Edwards added: “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.”

Nick Edwards, Rob Harding and Neville Kahn were appointed Joint Administrators of HMV on 15 January 2013.

 

 

blog comments powered by Disqus