HMV store closures: 27 shops to close IMMEDIATELY after Canadian rescue

HMV store closures: 27 shops to close IMMEDIATELY after Canadian rescue

Details of which stores are destined to be shuttered are not immediately available, but nearly 1,500 store and head office employees will keep their jobs as part of the transition.

100 of the entertainment retailer's stores have been purchased by Doug Putman, owner of Canadian chain Sunrise Records. Under the deal 27 HMV stores will close immediately with the loss of 455 jobs, with the further loss of 122 warehouse jobs to follow in the weeks to come.

"By catering to music and entertainment lovers, we are incredibly excited about the opportunity to engage customers with a diverse range of physical format content and replicate our success in Canada".

HMV collapsed into administration just after Christmas, blaming tough conditions on United Kingdom high streets and competition from streaming sites such as Netflix and Spotify.

'We know the physical media business is here to stay and we greatly appreciate all the support from the suppliers, landlords, employees and, most importantly, our customers'.

'Our immediate concern is now to support those employees that have unfortunately been made redundant'.

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The company collapsed into administration for the second time in six years in December putting 2,200 jobs at risk.

Neil Gostelow added: "We are grateful for the support of all key stakeholders including the suppliers whose support throughout this process has been key in securing this sale". But the chain has been hit hard in recent years by the rise of online music streaming options.

Mr Putman has a history with HMV, having bought the 70 stores in Canada after the chain went bust there in early 2017.

The company went into corporate restructuring late previous year, and a number of bidders came forward to buy the company.

HMV has a number of stores across Lancashire including Preston, Blackpool and Lancaster.

Details of the stores earmarked for closure have not yet been revealed.

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