Administrators announce 190 HMV job losses

 
Kasmira Jefford
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HMV’s administrators confirmed yesterday that 190 staff have been made redundant across the collapsed music retailer’s head office and distribution network.

Deloitte, which was hired to run the chain after it fell into administration earlier this month, said no jobs cuts have been made at its stores, which all continue to trade.

The redundancies took place at HMV’s office on Eastcastle Street in London, with others in its Marlow head office, and distribution sites in Canning Town and Birmingham.

Nick Edwards, Deloitte administrator, said: “Although such decisions are always difficult, it is a necessary step in restructuring the business to enhance the prospects of securing its future as a going concern.”

Despite the cuts, Deloitte sounded a more upbeat note on the brand’s future, insisting it still hopes to find a buyer for the ailing company. The deadline for suitors to register interest in the brand closed on Wednesday and the deadline for confirming interest in the stores is set for today.

“We have been very pleased with the level of interest in the business as a going concern, whilst the response from customers has demonstrated the demand to see HMV remain on the high street,” Edwards said.

Last week restructuring firm Hilco bought HMV’s £176m debt for a reported £40m, giving it control over the retailer’s future. Hilco has been using its good relationship with music labels and film studios through its Canadian business, to bring in stock and ensure HMV continues to trade.