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HMV prepared to go into administration as early as tomorrow
Update: It’s official, HMV is appointing Deloitte as an administrator for its 239-store chain, making it the latest High Street casualty.The company is suspending trading shares on the London Stock exchange, HMV said in a statement (via the BBC). “The board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection,” it explained.HMV added, “Understand that it is the intention of the administrators, once appointed, to continue to trade whilst they seek a purchaser for the business.”Read more…
