Partly Cloudy

Partly Cloudy

max temp: 18°C

min temp: 11°C

ESTD 1874 Search

HMV administration: Suffolk and north Essex stores escape latest round of closures

12:29 20 February 2013

More HMV store closures announced

More HMV store closures announced

HMV stores in Suffolk and north Essex have escaped the latest round of closures by the group’s administrators.

shares

Joint administrators from Deloitte today confirmed a further 37 of the collapsed high street music chain’s stores, employing 464 staff, have been identified for closure.

No fixed date is set for the closures which will continue to trade in the meantime, but they are expected to take place over the next four to six weeks in parallel with the 66 stores that are already subject to a closure programme. HMV currently operates from 219 stores in the UK.

Joint administrator Nick Edwards said: “As part of our ongoing review of HMV’s financial position, we have undertaken a further review of the store portfolio and have identified an additional 37 stores for closure. This step has been taken in order to enhance the prospects of the restructured business continuing as a going concern. Together with the previously identified 66 closures, this restructuring will result in a residual portfolio of some 116 stores.

“We are extremely grateful to the staff for their continued strong support and commitment during an understandably difficult period. All other key stakeholders including suppliers and landlords remain supportive and we appreciate their ongoing assistance.”

Nick Edwards, Rob Harding and Neville Kahn were appointed Joint Administrators of HMV on 15 January 2013.

The additional 37 stores identified for closure are: Ashford, Basildon, Bolton, Cheltenham, East Kilbride, Enfield, Folkestone, Glasgow Argyle, Gloucester, Grimsby, Hatfield Galleria, Heathrow T5 Departure Level, Heathrow Terminal 1, Heathrow Terminal 3, Heathrow Terminal 4, Hemel Hempstead, High Wycombe, Isle of Wight, Lancaster, Leadenhall, Mansfield, Middlesbrough, Newbury, Newcastle Silverlink, Newport, Nuneaton, Redditch, Salisbury, Scarborough, Southport, Stafford, Staines, Stockport, Swindon, Taunton, Torquay, Woking.

The 66 stores identified for closure, as announced on February 7, are: Ashton-under-Lyne, Ballymena, Barnsley, Bayswater, Belfast Boucher Road, Belfast Forestside, Bexleyheath, Birkenhead, Birmingham Fort, Blackburn, Boston, Bournemouth Castlepoint, Bracknell, Burton-upon-Trent, Camberley, Chesterfield, Coleraine, Craigavon, Croydon Centrale, Derry, Dumfries, Durham, Edinburgh Fort, Edinburgh Gyle Centre, Edinburgh Ocean, Edinburgh Princes Street, Edinburgh St James, Falkirk, Fulham, Glasgow – Fort, Glasgow – Silverburn, Glasgow Braehead, Huddersfield, Kirkcaldy, Leamington Spa, Leeds White Rose, Lisburn, Loughborough, Luton, Manchester 90, Moorgate, Newry, Newtonabbey, Orpington, Rochdale, Scunthorpe, South Shields, Speke Park, St Albans, St Helens, Stockton-on-Tees, Tamworth, Teesside, Telford, Trocadero, Wakefield, Walsall, Walton-on-Thames, Wandsworth, Warrington, Watford, Wellingborough, Wigan, Wood Green, Workington, Wrexham.

shares

0 comments

The first departure of the Port of Felixstowe's 31st daily rail freight service, to Birch Coppice.

The Port of Felixstowe today saw the launch of its 31st daily rail freight service.

Holiday parks group Park Resorts is to merge with rival operator Parkdean.

The UK’s biggest holiday park operator is to be created through a £960million merger deal involving Parkdean and Park Resorts.

EADT BUSINESS

Chris and Hayley Lee, pictured outside The Bildeston Crown

PICTURE CONTRIBUTED 

EADT 20/9/07
EADT 22/12/07
EADT 25.4.09

A couple who held senior posts at a country hotel-restaurant when it won a clutch of awards has returned.

Matt Howard and Stuart Morton of chartered accountants and business advisers Price Bailey.

Twenty-four staff have lost their jobs at a Lowestoft department store which went into administration last month as urgent efforts continue to find a buyer for the business.

Halfords has reported a fall in bike sales over the past two months.
Photo: Newscast/Mathew Growcoot

Halfords today reported a slump in bike sales over the last two months amid rainy weather and heavy discounting.

ASOS chief executive Nick Robertson, who is stepping down with immediate effect.

Online fashion retailer ASOS said today that its chief executive Nick Robertson is to step down with immediate effect from the helm of the company he founded 15 years ago.

BSP International Foundations, part of Tex Holdings plc of Great Blakenham, which has bought the assets and business of G & M Power Plant.

Nineteen out of 35 jobs at an electric generator manufacturer have been saved after its business and assets were bought out of administration on Wednesday.

Maria Peyman of Birketts with colleagues Katherine Shadbolt and Kitty Rosser.

Maria Peyman has joined the commercial litigation team at law firm Birketts as a senior associate.

Aga is at the centre of a takeover tussle after revealing US electronic appliances giant Whirlpool was considering a bid to rival Middleby's £129 million offer.

Upmarket cooker firm Aga Rangemaster is at the centre of a takeover tussle after revealing US electronic appliances giant Whirlpool was considering a bid to rival Middleby’s £129 million offer.

A Punch Tavern pub

Pub group Punch Taverns is set to post a slight fall in annual earnings as it continues to offload pubs to cut its debt pile.

Most read

Most commented

Topic pages