HMV Store Closures
7 February 2013, 11:14
HMV's administrators have announced 66 of the chain's stores are going to close, including those in Luton, Watford, St Albans and Wellingborough.
The closures will affect 930 staff, who are all expected to lose their jobs. The rest of HMV's 220 stores across the UK, including those in places like Milton Keynes, Hemel Hempstead and Bedford, will stay open for the moment.
The closures won't take place immediately, but the stores are expected to shut over the next couple of months.
HMV went into administration in January 2013, having suffered fierce competition in recent years from online music retailers.
Nick Edwards, Joint Administrator, commented: “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.
“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.”
The 66 stores identified for closure are:
Belfast Boucher Road,
Edinburgh Gyle Centre,
Edinburgh Princes Street,
Edinburgh St James,
Glasgow – Fort,
Glasgow – Silverburn,
Leeds White Rose,