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  1. National

HMV acknowledges 'invaluable contribution' of staff

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  1. National

HMV closures expected over next two months

No fixed date is set for the closure of the 66 stores which will continue to trade for now. However, the planned closures are due to start over the next one to two months. HMV currently operates from 220 stores in the UK.

HMV in central London Credit: Press Association

Nick Edwards, Joint Administrator, said: "As part of our ongoing review of HMVs financial position, we have now completed a review of the store portfolio and have identified 66 loss making stores for closure.

"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.

"All other key stakeholders remain very supportive and I continue to be hopeful of securing a future for the restructured business."

  1. National

Administrators: HMV gift cards to be honoured

Joint Administrators to HMV have confirmed that gift cards can be redeemed in stores from Tuesday.

They also confirmed that proceeds raised by HMV through the sale of charity releases, including the Hillsborough Justice Collective single, will be paid in full as soon as possible.

Joint Administrator Nick Edwards added:

We recognise that both of these matters have caused concern for individuals and organisations affected and are pleased to have reached a positive outcome.

We will continue to assess the longer term options for the business whilst continuing to trade. I am hopeful this process will result in the business continuing as a going concern.

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