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.
"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."
HMV's administrators are reportedly planning to shut up to 100 of the music chain's shops as part of plans to restructure the business.
Deloitte is set to announce the closure of between 60 and 100 shops this week, which could see 1,500 jobs axed, its been reported.
But under the plans, which would leave HMV with between 120 and 160 shops, the doors would not be closed until the stores have run out of stock.
HMV went into administration last month, putting more than 4,120 jobs and 223 stores at risk, but hopes of a rescue deal have been raised after restructuring firm Hilco - the group behind HMV Canada - bought the company's debt.
It is thought that Hilco was planning to begin negotiations with suppliers and HMV's landlords last week as part of a plan to salvage the group.
Hilco reportedly wants to rescue about half of the stores in the UK as it looks to repeat the strategy that has seen it turn around HMV's Canadian arm, which it bought in 2011.