HMV set to go into administration

HMV set to go into administration

Justin Burns

HMV set to go into administration
HMV in Peascod Street - Windsor

Music and retail chain HMV has announced it has appointed an administrator putting its store in Peascod Street Windsor at risk.

The entertainment store which was started in 1921, is the latest retail casualty after camera retailer Jessops and electronics firm Comet.

The news has put about 4,350 jobs at risk.

Deloitte LLP will keep HMV's 239 stores in the UK and Ireland, while it looks at the business and looks for potential buyers.

Trading in HMV shares on the London Stock Exchange has been suspended, HMV said in a statement. It also said it would not be accepting gift vouchers or issuing any more.

HMV follows joins the growing list of music retail stores going into administration or closing following Zavvi and Woolworths in the UK, and Tower in the US.

The HMV Group plc main head office is based in Windsor House, Spittal Street, Marlow.

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