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Tuesday, 21 October 2014

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Closure of Cumbrian HMV store announced

Administrators have confirmed that Workington's HMV store is to close.

hmv161
Nipper, the famous HMV trademark

It is one of 66 shops employing almost 1,000 people that will be shut by Deloitte.

It is understood that the affected 'loss-making' shops, including Workington, which employs 10 people, will close over the next two months.

HMV went into administration last month, putting over 4,000 jobs and 223 stores at risk, but hopes of a rescue deal have been raised after restructuring firm Hilco bought the company’s £176 million worth of debt.

The company is believed to be in talks with record labels, suppliers and HMV’s landlords as part of a plan to keep the retailer afloat in some capacity.

Hilco, which turned around the fortunes of HMV’s Canadian arm, and Deloitte believe that for the chain to emerge as a viable high street retailer it must slash its shop numbers to between 120 and 160.

Carlisle's store is to remain open.

Have your say

It's unbelievable!!! The only time the store was under targets was December.... The other 11 months this was a profitable store! And had not long had its tech refit, something carlisle hasn't. Sheer madness!!!

Posted by Bamboozled on 11 February 2013 at 18:28

Reprieve on the cards?

Seems David Fletcher is "negotiating" with Deloitte, which I presume means: If we cut your rent and rates from astronomical to reasonable, you might be able to afford to stop . . ?

Read into it what you want. That's my interpretation. Pity the rents aren't resonable to start off with.

Posted by Glitter on 8 February 2013 at 13:01

View all 14 comments on this article

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