Redditch HMV to close

By Harriet Ernstsons Wednesday 20 February 2013 Updated: 22/02 10:04

REDDITCH's HMV store will close within the next six weeks.

Administrators Deloitte LLP, who were appointed last month after the company got in to financial difficulty, announced today (Wednesday) the Kingfisher Centre shop was one of 37 affected by the latest round of closures.

Around 464 staff will lose their jobs including eight in Redditch. No fixed date has been set but it is expected all 37 will shut within the next four to six weeks, at the same time as a previous 66 stores identified for closure.

Joint administrator Nick Edwards said: "As part of our ongoing 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.

"We are extremely grateful to the staff for their continued strong support and commitment during an understandably difficult period. All other key stakeholders including suppliers and landlords remain supportive and we appreciate their ongoing assistance."

Ken Williams, manager of the Kingfisher Shopping Centre, said: "This is really disappointing. We are keen to work with the administrators and any new owners to keep the shop trading if we can."

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