190 redundancies at HMV

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HMV’s administrators have made 190 redundancies across the group’s head office and distribution network.

Joint administrator Nick Edwards of Deloitte, joint administrator, said: “Since our appointment as Administrators over two weeks ago, we have been assessing the financial position of HMV. Following this review, a number of redundancies at the head office and distribution centres have been made. Although such decisions are always difficult, it is a necessary step in restructuring the business to enhance the prospects of securing its future as a going concern.”

The administrators were appointed on 15th January.

“We have been very pleased with the level of interest in the business as a going concern, while the response from customers has demonstrated the demand to see HMV remain on the high street,” said Edwards. “Equally, the support received from suppliers has been very positive and has enabled us to continue trading during the administration. As a result of all of these factors, I remain hopeful we will be able to secure a future for a restructured business.”

There have been no redundancies across the retail network with all stores remaining open and continuing to trade.

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