Britain’s last-standing music retailer will have to change its tune to keep up

Kasmira Jefford
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ALMOST a century after HMV’s dog mascot Nipper first took a look down the gramophone, the record is still playing but the music has long changed its tune.

After what has been a torrid year for the group, investors, lenders and suppliers will today want to know whether HMV can play a different record -- one where its strategy of store closures, refurbishments and focus on technology has paid off.

Analysts hope HMV will cut its net debt in the vital second half. Dire trading conditions this Christmas seem to say otherwise.