HMV to shut 100 stores

4:10pm Sunday 3rd February 2013

By Daily Echo Reporter

HMV's administrators are reportedly planning to shut up to 100 of the music chain's shops as part of plans to restructure the business.

Deloitte is set to announce the closure of between 60 and 100 shops this week, which could see 1,500 jobs axed, according to reports.

But under the plans, which would leave HMV with between 120 and 160 shops, the doors would not be closed until the stores have run out of stock.

It is not yet known whether the chain’s Hampshire branches will be affected.

HMV went into administration last month, putting more than 4,120 jobs and 223 stores at risk, but hopes of a rescue deal have been raised after restructuring firm Hilco - the group behind HMV Canada - bought the company's debt.

Deloitte declined to comment.

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