HMV in administration - update
08 February 2013
HMV Group plc, HMV Music Ltd, HMV UK Ltd, HMV (IP) Ltd and Fopp Entertainments Ltd (together “HMV” or “the Companies”) – in administration - Update
The Joint Administrators of HMV today confirm that 60 redundancies have been made across the Companies’ head office network at Eastcastle Street (London), Marlow and Solihull.
Nick Edwards, Joint Administrator, commented: “Following our announcement of the closure of 66 stores yesterday, it has been necessary to consider the head office support required for the reduced store portfolio. As a result of this review, a number of redundancies at the head office have been made. This has been a difficult decision, but a necessary one in restructuring the business. We would like to express our gratitude to staff for their continued support during the administration.”
Nick Edwards, Rob Harding and Neville Kahn were appointed Joint Administrators to HMV on 15 January 2013.
Note to editors:
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities.
Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited