The administrators of Music retailer HMV are to close sixty-six stores including three in the Meridian region, in a move that will cut almost 1,000 jobs. Branches in Camberley, Bournemouth Castlepoint and Walton-on-Thames will shut in the next one to two months. The chain currently has 220 stores.
The administrators 'Deloitte' were called in to the struggling retailer last month, and a restructure is underway. Deloitte said the shops facing closure are all loss-making.
However there are hopes that a rescue deal may be forthcoming after Hilco, the company behind HMVCanada bought the firm's debt.
– Nick Edwards, Administrator of HMV
"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."