1. Meridian

HMV set to close 66 stores

The administrators of Music retailer HMV are to close sixty-six stores including three in the Meridian region.

HMV to close three stores in region

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."

– Nick Edwards, Administrator of HMV

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