109 NI jobs lost as HMV stores close
Nine HMV stores across Northern Ireland are to shut leaving 109 people out of work, the company's administrators have revealed.
Thursday, 07 February 2013
Across the UK 66 stores employing a total of 930 staff will go, according to administrator Deloitte.
The music retailer stores earmarked for closure will continue to trade until they shut in the next two months.
Nick Edwards, from the company, said the decision was taken during a review of HMV's financial position.
"This step has been taken in order to enhance the prospects of securing the business' future as a going concern," he said.
"We continue to receive strong support from staff and are extremely grateful to them for their commitment during an understandably difficult period. All other key stakeholders remain very supportive and I continue to be hopeful of securing a future for the restructured business."
Doors will shut permanently at shops in at Belfast's Boucher Road complex, Forestside shopping centre, Lisburn, Ballymena, Coleraine, Craigavon, Londonderry, Newry, and Newtownabbey.
HMV's flagship store on Royal Avenue in Belfast will remain open.
NIIRTA Chief Executive Glyn Roberts has described the announcement as "a big loss to the local retail sector".
"Regrettably HMV did not keep up with the trend toward online and download and joins the growing list of retail chains that did not reinvent and innovate in a very challenging marketplace."
The announcement will leave 154 HMV stores operating in the UK.
Administrators were called in last month after HMV struggled to make up sales after Christmas, which meant it could not meet its financial commitments.
Restructuring firm Hilco, the group behind HMV Canada, bought the company's debt, raising hopes of a rescue deal.