Nine HMV shops in North among 66 to close with loss of 930 jobs
HMV’s administrators are to close 66 shops at the music chain in a move set to cost nearly 1,000 jobs across the UK. HMV Deloitte said the 66 shops, which employ 930 people, were all loss-making. They include nine outlets in Northern Ireland.
Deloitte said the shops would continue to trade, but the closures were expected over the next one or two months. Administrator Nick Edwards said the shops had been identified in a review of the company’s financial position and the group still hoped to secure a future for the restructured business.
“This step has been taken in order to enhance the prospects of securing the business’s future as a going concern,” he said. “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 stores in the UK, 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. – (PA)