HMV announces 37 more store closures
By Andy Malt | Published on Wednesday 20 February 2013
HMV administrator Deloitte has announced the closure of a further 37 branches of the entertainment retailer. This follows the earlier announcement that 66 shops would be shut down in the UK, and all in the Republic Of Ireland would remain closed permanently (they having been shuttered as soon as the company went into administration in January).
Joint administrator Nick Edwards told reporters: “As part of our ongoing review of HMV’s financial position, we have undertaken a further review of the store portfolio and have identified an additional 37 stores for closure. This step has been taken in order to enhance the prospects of the restructured business continuing as a going concern. Together with the previously identified 66 closures, this restructuring will result in a residual portfolio of some 116 stores”.
The latest closures, expected to take place with by the end of March, will leave 464 people out of work. The 37 shops affected are: Ashford, Basildon, Bolton, Cheltenham, East Kilbride, Enfield, Folkestone, Glasgow Argyle, Gloucester, Grimsby, Hatfield Galleria, Heathrow T5 Departure Level, Heathrow Terminal 1, Heathrow Terminal 3, Heathrow Terminal 4, Hemel Hempstead, High Wycombe, Isle Of Wight, Lancaster, Leadenhall, Mansfield, Middlesbrough, Newbury, Newcastle Silverlink, Newport, Nuneaton, Redditch, Salisbury, Scarborough, Southport, Stafford, Staines, Stockport, Swindon, Taunton, Torquay, Woking.