HMV / 464 Jobs cut due to 37 stores closure

Troubled entertainment retailer HMV is to close another 37 stores with the loss of 464 more jobs, according to the administrators.

Joint administrator Nick Edwards said: “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.”

HMV went into administration on January 15.

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via HMV To Close 37 More Stores With 464 Jobs Cut.