Leicester HMV store escapes new round of closures
The HMV store in Leicester has escaped a new round of branch closures.
The store, in High Street, is not among 37 which have today been earmarked for closure by administrators Deloitte.
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HMV store
It comes after 66 of the entertainment stores, including the Loughborough branch, were given closure notices two weeks ago.
HMV, founded 92 years ago, went into administration last month after being badly hit by competition from supermarkets and online operators such as iTunes and Amazon.
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The closures, due to take place over the next few weeks, would leave 116 stores across the country.
Following HMV's collapse Hilco, the turnaround specialist, effectively took control of the business after buying its debt.
Joint administrator Nick Edwards said: "As part of our ongoing review of HMV's financial position, we have undertaken a further review of the store portfolio and have identified an additional 37 stores for closure.
"This step has been taken in order to enhance the prospects of the restructured business continuing as a going concern. Together with the previously identified 66 closures, this restructuring will result in a residual portfolio of some 116 stores."
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