Chief executive explains what went wrong at HMV

HMV chief exeutive Trevor Moore has spoken to ITV News' Business Editor Laura Kuenssberg about the events leading up to the retailer entering administration.

He also said the expectation is that "employment would continue" for the company's 4,500 "hugely loyal" employees.

When asked if he takes responsibility for what had happened, Mr Moore said: "I would have liked more time to have been able to develop the solution that I have for the business and implement that plan.

"I very much hope we can bring a business out on the other side".

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Equity firm buys HMV's debt

A Canadian private equity firm has bought the debt of struggling music retailer HMV.