A third of all HMV stores will close in the next two months, administrators say
7th Feb 2013 | 12:22
Shops will go throughout the UK
Beleaguered high street chain HMV will close 66 out of its 220 UK stores in the next two months, administrators Deloitte have announced.
That will mean 930 staff will lose their jobs, along with the 190 that have already gone.
No exact date was set for when the stores will close, but they're expected to be shuttered in the next couple of months.
"This step has been taken in order to enhance the prospects of securing the business' future as a going concern," said Nick Edwards, joint administrator at Deloitte.
"We continue to receive strong support from staff and are extremely grateful to them for their commitment during an understandably difficult period. All other key stakeholders remain very supportive and I continue to be hopeful of securing a future for the restructured business."
Death of tech on the high street?
Deloitte have been in talks with restructuring specialists Hilco about taking over the music, movies and games chain. Hilco already owns HMV Canada, and has bought the store's debt from its lenders, so fingers crossed an eleventh-hour rescue is on the cards.
Comet went into administration before Christmas as well, so it's not been a good few months for tech stores on the British high street.