More shop gloom at Merry Hill as HMV calls in administrators

First published in News

MORE jobs at Merry Hill are at risk after music chain HMV announced it is to call in the administrators.

The news comes just days after the demise of camera retailer Jessops, which had a store just a few units away from HMV on the upper mall at Merry Hill.

All of HMV’s 239 UK outlets will remain open while administrator Deloitte attempts to find a buyer for some or all of the business – although store closures are likely according to reports.

The firm has been struggling against competition from internet retailers and supermarkets selling cheaper CDs and DVDs - and concerns about HMV’s were raised last week when it announced a month-long, 25 per cent off sale across its stores to shift stock after a poor Christmas.

Around 4,350 jobs are believed to be at risk across the UK. The number of staff working at the Merry Hill store is uncertain.

Trading in HMV shares on the London Stock Exchange has been suspended and the firm has said it will not be accepting gift vouchers or issuing any more.

Comments

Comments are closed on this article.

Send us your news, pictures and videos

Most read stories

Local Info

Enter your postcode, town or place name

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree