Deloitte appointed administrators to HMV Group plc, HMV Music Ltd, HMV UK Ltd and Fopp Entertainments Ltd
15 January 2013
Nick Edwards, Rob Harding and Neville Kahn of Deloitte, the business advisory firm, have today been appointed Joint Administrators to HMV’s UK retail business, the high street retailer of filmed entertainment, games, music and portable digital technology products.
HMV, which is headquartered in London, operates out of 223 stores in high streets and shopping centres across the UK, and has 4,123 employees.
Nick Edwards, Joint Administrator and restructuring services partner at Deloitte, commented: “HMV is an iconic retailer and continues to be a very popular brand, but as we have seen with many high street retailers, the market is changing rapidly and conditions are currently very tough.
“Following our appointment, we are working closely with management and staff to stabilise the business in order to continue trading whilst actively seeking a purchaser for the business and assets. We appreciate the cooperation and support from the staff, customers, suppliers and landlords at what is clearly a difficult time.”
Certain HMV Group plc subsidiaries including HMV Guernsey Ltd, HMV Hong Kong Ltd, HMV Ireland Ltd, HMV Singapore Ltd and 7Digital Group remain outside of an insolvency process.
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