66 HMV stores axed

HMV adminstrator, Deloitte, has confirmed that that 66 of the group's stores will be shut down in the next few weeks, with the potential loss of 930 jobs.

No fixed date is set for the closure of these stores which will continue to trade in the meantime, but they are expected to go within the next one to two months. HMV currently operates from 220 stores in the UK.

Nick Edwards, joint administrator, said: '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. This step has been taken in order to enhance the prospects of securing the business' future as a going concern.'

Edwards said the administrators remain 'hopeful of securing a future for the restructured business.'

Pat Sweet | Reporter, Accountancy Daily [2010-2021]

Pat Sweet was the former online reporter at Accountancy Daily and contributor to the monthly Accountancy magazine, pub...

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