HMV in Tamworth to Close

HMV - TamworthThe administrators of HMV have said the store in Ankerside, Tamworth is one of 66 of the music and DVD retailer’s stores that will close over the next two months.

Last week, it was confirmed that about 190 jobs had been shed across HMV’s head office and distribution network.  HMV has faced intense competition from online retailers, digital downloads and supermarkets in recent years and entered administration in January.

Deloitte said no fixed date had been set for the closure of the store and it will continue to trade in the meantime.

Nick Edwards, joint administrator at Deloitte, said, “This step has been taken in order to enhance the prospects of securing the business’ future as a going concern.

“We continue to receive strong support from staff and are extremely grateful to them for their commitment during an understandably difficult period.  All other key stakeholders remain very supportive and I continue to be hopeful of securing a future for the restructured business.”

The administrators have been in talks with restructuring specialist Hilco about taking over HMV.  Hilco, which already owns HMV Canada, has bought HMV’s debt from its lenders, a move that could pave the way to taking full control of the company.

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