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Jeremy Roberts
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Michael Oliver
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Steve Purdham
Julie Meyer

Category: HMVSyndicate content

Restructuring specialist Hilco has bought HMV in a deal that could save 2,500 jobs.

HMV has signed trading agreements with the majority of its suppliers meaning new stock will be on sale in its stores.

Sixty-six HMV stores are to close, resulting in the loss of 930 jobs.

Over 1,400 stores have been left at risk of closure or have already shut their doors after a disastrous month on the high street, with recent administrations threatening to push the national shop vacancy rate to a record high.

HMV’s finance director, David Wolffe, has stepped down just days after the departure of the group’s chief executive Simon Fox.

Administrators for entertainment retailer Zavvi, formerly Virgin Megastore, have announced that its remaining stores will cease trading by February 20th.

The closure of the stores will mean 446 job losses, but administrators were able to save some positions following agreements reached with HMV and Head Entertainment.

HMV
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