Hmv Saved From Administration; 100 Stores To Stay Open

Hmv Saved From Administration; 100 Stores To Stay Open

The shop is the only one in Yorkshire to close after HMV was acquired out of administration by Canadian retailer Sunrise Records, safeguarding the future of almost 1,500 staff.

HMV's flagship Oxford Street store is set to close despite the rescue of the chain.

Here in Blighty, HMV stores will remain under the HMV banner, Putman told Radio 4's Today Programme on Tuesday.

Sunrise Records, a Canadian chain of record stores, agreed to buy most of HMV Group Plc in an auction overseen by the embattled music retailer's administrators, fending off a rival bid by retail magnate Mike Ashley.

After news of its offer surfaced yesterday (February 4), Sunrise Records' bid to bail out HMV in the United Kingdom has been successful.

There are 455 redundancies at the 27 stores that have not been acquired.

More news: Carrie Lam wishes all a healthy and prosperous Year of the Pig

"By catering to music and entertainment lovers, we are incredibly excited about the opportunity to engage customers with a diverse range of physical format content and replicate".

KPMG - has released its full list of HMV stores planned for closure.

We know the physical media business is here to stay'.

HMV owner Hilco, which took the company out of its first administration in 2013, blamed a "tsunami" of retail challenges for the latest collapse.

It was confirmed the Belfast store will continue to trade.

HMV called in administrators KPMG for the second time in six years in late December, citing "a tsunami of challenges" facing the company, including the move from traditional sales to digital.

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