Music over for HMV as retailer calls in administrators

Music and DVD retailer HMV said it was calling in the administrators after a last-ditch attempt to secure funding failed, bringing the curtain down on one of Britain’s best-known high street retail stores.

The accounting firm Deloitte has been named as the administrator and intends to keep the business running while it seeks a potential buyer, HMV said in a statement.

The company, which still has 239 stores in the UK and Ireland with around 4,350 staff, has struggled amid declining music, DVD and games markets. It also has outlets in Hong Kong and Singapore.

via Business feed http://www.scmp.com/business/companies/article/1128415/music-over-hmv-retailer-calls-administrators