HMV comes under administration threat

PUBLISHED: 11:58 15 January 2013

More jobs are at risk in Bexleyheath as entertainment store HMV became the latest high street retailer to be under threat from administration.

The 92-year-old chain, which has a shop in Broadway, employs 4,350 staff nationwide and it is expected to appoint accountancy firm Deloitte as its administrator to sort out its finances.

In a statement, the company said: “The board regrets to announce it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection, and in the circumstances therefore intends to file notice to appoint administrators to the company and certain of its subsidiaries with immediate effect.

“The directors of the company understand that it is the intention of the administrators, once appointed, to continue to trade whilst they seek a purchaser for the business.”

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