HMV stores to remain open despite job losses

HMV stores to remain open despite job losses

HMV stores to remain open despite job losses

First published in News
Last updated

HMV administrators Deloitte have confirmed that 190 redundancies have been made across the company's head office and distribution network, but retail staff are safe and stores are continuing to trade.

Nick Edwards, joint administrator from Deloitte, said: “Since our appointment as administrators over two weeks ago, we have been assessing the financial position of HMV.

"Following this review, a number of redundancies at the head office and distribution centres have been made. Although such decisions are always difficult, it is a necessary step in restructuring the business to enhance the prospects of securing its future as a going concern.

“We have been very pleased with the level of interest in the business as a going concern, whilst the response from customers has demonstrated the demand to see HMV remain on the high street.

"Equally, the support received from suppliers has been very positive and has enabled us to continue trading during the administration. As a result of all of these factors, I remain hopeful we will be able to secure a future for a restructured business.”

 

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

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