Dozens of Leicestershire jobs at risk as HMV goes into administration
Dozens of Leicestershire jobs were put in jeopardy today after high street chain HMV went into administration.
The music and DVD retailer, founded in 1921, employs 4,000 staff and has 223 stores, including outlets in High Street, Leicester and Loughborough.
The company has suffered financial problems after a sharp decline in trade. It has been hit hard by the rise of digital downloads and the flight of physical DVD and CD sales to the internet.
Trevor Moore left his role as chief executive of Leicester-based camera chain Jessops in July to lead the turnaround of the struggling group. Last week Jessops closed all of its 187 stores with the loss of around 1,500 jobs after plunging into administration.
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HMV this morning appointed Deloitte partners Nick Edwards, Neville Kahn and Rob Harding as administrators, who will continue to run the business while a buyer is sought.
Administrators said HMV stores would not be accepting gift vouchers or offer exchanges or refunds.
It comes after an electrical goods chain, with a store in Leicester, closed yesterday with the loss of 22 jobs.
The Sony Centre, in Highcross shopping centre, ceased trading along with sister stores in Nottingham, Derby and Lincoln.
The company's owner, Raresupply, had gone into administration after a downturn in trade.