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Wednesday, 23 July 2014

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Jobs axed at HMV but chain's shops stay open

Administrators running the troubled music chain HMV have cut 190 jobs, but all its shops remain open.

Nick Edwards, Rob Harding and Neville Kahn, of insolvency specialist Deloitte, were appointed joint administrators on January 15 and are trying to sell the business as a going concern.

HMV has 223 stores including outlets at The Lanes in Carlisle and Washington Square, Workington.

All 190 redundancies are at the firm’s head office or in its distribution network. None is in its stores.

Mr Edwards said: “Although such decisions are always difficult, it is a necessary step in restructuring the business to enhance the prospects of securing its future as a going concern.

“I remain hopeful we will be able to secure a future for a restructured business.”

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