HMV calls in suppliers for emergency talks

The Observer reports that HMV, the UK high street retailer and now live music group has called in suppliers tomorrow (December 19th) for an emergency meeting and is expected to announce first half losses of £38 million. Despite selling the Waterstones book retailer chain for £53 million, the Simon Fox led group is now apparently valued at just £16 million - although Christmas would usually be its busiest time. HMV brought the MAMA Group for £46 million in 2009.