07/02/2013

Nine NI HMV Stores To Close

Nine HMV stores in Northern Ireland are to close as part of an operation which will see 66 stores UK-wide closed over the next two months.

Administrators have revealed the shops due to shut in Northern Ireland include those on the Boucher Road and Forestside, Belfast.

Stores at Ballymena, Coleraine, Craigavon, Londonderry, Lisburn, Newry and Newtownabbey will also close.

The closures across the UK are expected to affect a total of 930 staff.

About 190 jobs have already been lost across HMV's head office and distribution network.
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The news follows the placing of the company into the hands of administrators. It was one of the first high-street financial casualties of 2013, along with DVD-rental group Blockbuster Video and photography suppliers Jessops.

HMV’s downfall is being blamed on a failure to adapt to the new wave of online shopping and music downloads.

Administrators Deloitte say no fixed date has been set for the closure of the 66 identified stores, which will continue to trade in the meantime.

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

"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."

(IT)

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