HMV has announced marginal losses amid the coronaviurs pandemic and owner Doug Putman says he is “positive about the months and years to come”.

The entertainment retailer, which was rescued by Putman in 2019 after falling into administration, recorded a loss before tax of £198,000 in the 16 months to May 30.

Despite all 108 of its UK stores being forced to close during the three-month lockdown period earlier this year, HMV made sales of £187m giving the retailer confidence for the future.

HMV has been investing in its website to offset the decline in footfall across physical shopping locations and has also been focusing on introducing new ranges.

The retailer said it has planned for various trading outcomes amid the pandemic and is confident it can manage any future disruption.

Putman bought the business last year for £883,000 after it fell into its second administration in six years, and vowed to turn things around despite the proliferation and popularity of streaming services.

Putman said: “I think these results show how robust the HMV brand and business really is. Despite the challenges from the first lockdown, the team is turning the business around and we would like to thank our loyal customers and our supplier partners for their support.

“With a focus on our fan communities, the introduction of new ranges and a move into must-have popular culture merchandise for Christmas 2020, we’re feeling really positive about the months and years to come.”