Troubled
entertainment retailer HMV is to close another 37 stores with the loss of 464
more jobs, according to the administrators.
Joint
administrator Nick Edwards said: "As part of our on going review of HMV’s
financial position, we have undertaken a further review of the store portfolio
and have identified an additional 37 stores for closure.
"This
step has been taken in order to enhance the prospects of the restructured
business continuing as a going concern.
"Together
with the previously identified 66 closures, this restructuring will result in a
residual portfolio of some 116 stores."
HMV went
into administration on January 15.
The high
street chain was one of several brand names to be hit by administration in the
post-Christmas period.
Camera
chain Jessops, video rental firm Blockbuster and more recently fashion group
Republic have all called in administrators.
The HMV
website no longer advertises products on its home page
The
administrators from Deloitte said the HMV stores would close over the next four
to six weeks and would probably lead to all affected staff being made
redundant, although it would try to relocate employees to other stores where
possible.
Flagship
stores at London's Heathrow airport, where ground rents are high, are among
those set for closure.
The
venerable HMV brand has struggled amid the digital revolution as consumer
increasingly access music and film via online services.
Meanwhile,
Sky News has confirmed that singer Sir Elton John will perform at an HMV store
in the future to help support the chain's survival.
The
performer's spokesman, Gary Farrow, said it would likely be an
"intimate" gig.
Mr Farrow
said: "Elton has always been a big supporter of record shops.
"He
will be doing something with HMV although as yet we cannot confirm what or when
that would be."
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