HMV boss confident the brand can stay on the High Street

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HMV employs nearly 4,000 staff Photo: Yui Mok/PA Wire/Press Association Images

The boss of HMV has just told journalists that he is confident a solution can be found to keep the brand on the High Street.

In what form, however, Trevor Moore is a lot less clear.

He says it was only yesterday after talking to banks and suppliers the company realised they could not continue to trade.

After "disappointing" sales in the crucial run up to Christmas, the business had run out of options.

Moore points out that three-quarters of all music sales are still physical rather than downloads, suggesting there is a future for firms that want to sell CD s or DVDs.

But that is not the same as saying the retailers themselves need to be bricks and mortar, rather than online stores that deal in clicks and orders.