A further 37 HMV stores are set to close, putting 464 jobs on the line as administrator Deloitte restructures the business in advance of a possible sale.
HMV administrator Deloitte said there is no fixed date set for the closures but they are expected to be shuttered in the next 4-6 weeks along with the 66 stores that are already slated for closure.
HMV currently operates from 219 stores in the UK. The closures would result in a slimmed down portfolio of 116.
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.
“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.”
Last week Deloitte struck a deal to continue to stock major new film, music and game releases.
The temporary deals with film studios and music labels means that the retailer is able to stock hotly-anticipated new releases including James Bond film Skyfall and Madagascar 3.
HMV collapsed into administration last month after fierce competition from online retailers and a severe decline in its core markets.
Restructuring firm Hilco subsequently acquired HMV’s debt, although the retailer remains in administration.
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