HMV closing 37 more stores, 464 layoffs
The deluge of bad news isn’t over for UK retailer HMV, with 37 more stores confirmed to be closing in addition to the 66 announced earlier this month. These further closures are resulting in 464 lost jobs, making a post-administrative total of at least 1,454 layoffs.
HMV, one of the UK’s most prominent high street sellers of games, went into administration last month after failing to acquire $483 million to finance debts. Restructuring company Hilco then took on the retailer’s debt. This latest round of store closures means HMV’s UK high street arm will be cut by almost half to 116 stores in four to six weeks’ time.Continue reading HMV closing 37 more stores, 464 layoffsHMV closing 37 more stores, 464 layoffs originally appeared on Joystiq on Wed, 20 Feb 2013 11:00:00 EST. Please see our terms for use of feeds.
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