HMV To Close 100 Stores

Back to News ListTuesday 5 February 2013



HMV To Close 100 Stores

Struggling music retailer HMV have announced that they plan to close up to 100 stores over the next few months.

The announcement from HMV's administrators Deloitte, said that 60 to 100 stores would be closed down, resulting in more than 1500 job losses. But the outlets in questions will continue to trade until they run out of stock.

Last week, the administrators already cut 190 HMV jobs at the company’s head office, and alongside new majority shareholders Hilco, have included the closures as part of their new restructuring plan for the company.

Although no individual shop has been mentioned as part of the restructuring, one of HMV's flagship stores in Central London is likely to close as the Piccadilly Circus branch is said to be making a loss over the Oxford Street store.

Read the full article here.