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HMV branches to shut

HMV on Fishergate in Preston city centre which is not among 37 stores announced will be closing

HMV on Fishergate in Preston city centre which is not among 37 stores announced will be closing

 

The Lancaster branch of music store HMV is among the latest round of store closures announced by administrators.

Deloitte confirmed the branch on Marketgate, Lancaster and Chapel Street, Southport are among 37 closures announced on Wednesday.

But, the stricken retailer’s branch on Fishergate, Preston, is not on the list of closures.

Joint administrator Nick Edwards said the latest round of cuts would lead to a further 464 jobs being lost on top of 66 store closures announced earlier this month, affecting nearly 1,000 staff.

He 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.”

He added all landlords and suppliers “remain supportive” as administrators continue to try and find a buyer.

 

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