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HMV warning as sales tumble

HMV faces an uncertain future as its sales continue to fall. The company is in discussions with the banks over concerns their loan terms may not be met.

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HMV under threat following poor Christmas sales

HMV's 238 stores could be under threat following lower sales than expected Credit: Anna Gowthorpe/PA Wire

HMV's new boss today warned the entertainment group is in talks with banks over its future following worse-than-expected trading in the run-up to Christmas.

Chief executive Trevor Moore warned that current market conditions suggest the group will not meet expectations for the year to April.

As a result, the terms of its bank loans are not likely to be met in January and April, placing the future of the 238-strong chain under threat.

Like-for-like sales fell 10.2% in the six months to October 27 as its pre-tax loss narrowed to £36.1 million, compared to £50.1 million the previous year.

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