By Daniel Hunter
The joint administrators for HMV have confirmed that 66 of the group’s stores have been identified for closure.
The affected stores employ 930 staff. No fixed date is set for the closure of these stores which will continue to trade in the meantime.
However, it is expected that closures will take place over the next one to two months. HMV currently operates from 220 stores in the UK.
“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," Nick Edwards, Joint Administrator, commented.
"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.”
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