Redditch HMV safe as hundreds of jobs at risk as administrators announce store closure plans

Redditch HMV safe as hundreds of jobs at risk as administrators announce store closure plans

Redditch HMV safe as hundreds of jobs at risk as administrators announce store closure plans

First published in Local

THE Redditch branch of HMV is not among the 66 stores identified for closurer.

HMV administrators Deloitte announced that 66 of the music retail group's stores will clos over the next two months.

The move puts 930 jobs at risk and follows 190 redundancies made across the company's head office and distribution network last week.

The chain, which fell into administration last month, has 238 outlets, including a store in Worcester's High Street.

Deloitte said the shops would continue to trade but the closures were expected over the next one to two months.

Administrator Nick Edwards said the shops had been identified as part of an ongoing review of the company's financial position and the group still hoped to secure a future for the restructured business.

He said: "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."

Hopes of a rescue deal have been raised after restructuring firm Hilco - the group behind HMV Canada - bought the company's debt.

Worcestershire’s favourite son Edward Elgar opened the chain's first ever store in London's Oxford Street  in July 1921

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