HMV administrators axe 190 head office jobs
JOINT Administrators of CD and DVD retailer HMV have confirmed 190 redundancies have been made across the company’s head office and distribution network – which includes an office in Solihull.
However, there have been no redundancies across the retail network and all stores are remaining open and continuing to trade.
Nick Edwards, Joint Administrator, said: “Since our appointment as administrators over two weeks ago, we have been assessing the financial position of HMV.
“Following this review, a number of redundancies at the head office and distribution centres have been made. Although such decisions are always difficult, it is a necessary step in restructuring the business to enhance the prospects of securing its future as a going concern.
“We have been very pleased with the level of interest in the business as a going concern, whilst the response from customers has demonstrated the demand to see HMV remain on the high street. “
He added the support of suppliers had also been encouraging and had enabled the retailer to continue trading during the administration.
“As a result of all of these factors, I remain hopeful we will be able to secure a future for a restructured business,” said Mr Edwards.
He and his colleagues at Deloitte – Rob Harding and Neville Kahn – were appointed Joint Administrators to HMV on January 15.
HMV’s head office is split across various sites with the Solihull branch situated in Royal House, Prince’s Gate.