HMV to go into administration

thecentre:mk

thecentre:mk

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THOUSANDS of pounds worth of gift vouchers given out at Christmas are no longer valid at HMV in Milton Keynes.

The struggling retailer, who own the largest music store in thecentre:mk, are set to go into administration.

HMV, which employs more than 4,000 people in 238 stores nationwide, will keep their shops open as long as they can.

In its statement, HMV said: “The board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection and in the circumstances therefore intends to file notice to appoint administrators to the company and certain of its subsidiaries with immediate effect.”

The statement continued that the board “understand that it is the intention of the administrators, once appointed, to continue to trade whilst they seek a purchaser for the business.”

HMV’s demise comes just weeks after the fall of Jessops and Comet - both of which had homes in thecentre:mk.