Swindon HMV staff face uncertainty after firm put into administration

By Ben Fitzgerald - 28 December 2018

CommunityBusiness

Staff at the Swindon branch of HMV are facing uncertainty as the firm has collapsed into administration for the second time in six years.

The music retailer, which has 125 UK stores employing 2,200 people has appointed administrators KPMG following poor sales over the festive period.

The company, which was previously rescued by restructuring firm Hilco in 2013, has confirmed that the stores will remain open while talks with potential suppliers continue.

Executive chair of HMV and Hilco. Paul McGowan said the decline in the CD and DVD market was to blame, with sales falling by over 30 per cent compared to the previous year.

He also said that the store, in common with other high street retailers, was also suffering from the wider downturn in High Street spending.

Your Comments

Be the first to comment on this article

Login or Register to post a comment on this article

Registered in England & Wales. No: 4513027, Positive Media Group, Old Bank House, 5 Devizes Road, Old Town, Swindon, SN1 4BJ