HMV to Close 66 Stores

by William D'Angelo, posted on 07 February 2013 / 2,247 Views

Retailer HMV's administrators Deloitte has said that 66 of 220 HMV stores will close over the course of two months. 930 employees will be laid off. It is not known at this time which stores will be closing its doors.

"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," said Deloitte's Nick Edwards. "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," continued Edwards. "All other key stakeholders remain very supportive and I continue to be hopeful of securing a future for the restructured business."

This news comes less than a week after a report surfaced that HMV will be closing up to 100 of its stores.


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1 Comments

DarkFury (on 08 February 2013)

I hope that the people who lost their jobs will swiftly find new employment.