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Tuesday, January 15, 2013

HMV to keep trading as administrator appointed

Entertainment retailer HMV is reported to be appointing Deloitte as its administrator, although its shops in the UK and Ireland will remain open during the search for a buyer. The company, which opened its first shop in 1921, currently has over 200 stores and employs over 4,000 people.

This news follows the recent closures of the Comet and Jessops retail businesses.

HMV is best known for its music and movie sales, although until recently the company also had a number of Orange mobile phone concessions in its shops.

[More details: BBC News; guardian.co.uk

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Author: The Fonecast
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