Tuesday, 15 January 2013

HMV perapres to go into administration

The UK's last remaining music retail chain, HMV,  is about to into administration, with the future of the 240 strong chain and 4,300 jobs at risk. 

Previous CEO Simon Fox had spearheaded a failed attempt to move into live music, and recent reports said that it was only credit lines from the major record labels which were keeping the ailing retailer alive. In the run-up to Christmas HMV's boss Trevor Moore warned the entertainment group was in trouble as he revealed the chain was in talks with banks over its future following worse-than-expected trading over the festive period. HMV joins camera and photography group Jessops and electrical retail chain Comet in the growing number of UK retail casualties, 

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