Taunton HMV to stay open as administrators confirm 66 closures

HMV in Taunton still part of music giant's future

HMV in Taunton still part of music giant's future

First published in News
Last updated

HMV in Taunton has survived the axe after administrators confirmed plans to close 66 loss-making stores around the country.

Nine hundred and thirty jobs will be lost when the stores close but administrators hope the decision will bolster the future of the restructured business.

A spokesperson from HMV said: “This decision has not been taken lightly and, though very sad and regrettable, it is necessary to give HMV the best possible chance of emerging from administration and having a future on the high street.”

It is expected that the stores, which make up over a quarter of the High Street chain’s 220 shops and are based mostly in the North, will close within the next two months.

Last October HMV’s debt stood at £176m and the music giant called in administrators after suffering dismal Christmas sales.

There have been hopes of a rescue deal after restructuring firm Hilco - the group behind HMV Canada - bought the company's debt in last month.
 

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6:03pm Thu 7 Feb 13

Mi_Coc says...

I am one of these strange folk who like having a high street were i can browse and buy things. I dont mind paying a little extra for that service but hmv taunton is a waste of time.

Went in twice in nov 12 looking for a cd. Was told it was sold out and should be back in stock within two weeks. I returned and was told they cant order any from that supplier at the moment so I couldnt order it in to store. Went on their website and its was available to be delivered in 2-3 days. I ordered from amazon in the end saving £3.
I am one of these strange folk who like having a high street were i can browse and buy things. I dont mind paying a little extra for that service but hmv taunton is a waste of time. Went in twice in nov 12 looking for a cd. Was told it was sold out and should be back in stock within two weeks. I returned and was told they cant order any from that supplier at the moment so I couldnt order it in to store. Went on their website and its was available to be delivered in 2-3 days. I ordered from amazon in the end saving £3. Mi_Coc
  • Score: 0

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