Local HMV stores saved from immediate closure

Portsmouth Vegan Festival is back: 5 things you need to know

Have your say

ADMINISTRATORS in charge of trying to save music retailer HMV from liquidation will not be closing stores in the Portsmouth area for the foreseeable future.

In an announcement this morning, Deloitte confirmed that 66 of the group’s HMV or Fopp stores will be closing, putting 930 jobs at risk.

No fixed date is set for the closure of these stores which will continue to trade in the meantime.

However, it is expected that closures will take place over the next one to two months.

HMV currently operates from 220 stores in the UK, including two in Portsmouth’s Commercial Road and Gunwharf Quays and a third in Chichester’s East Street.

Nick Edwards, joint administrator, said: ‘As part of our ongoing review of HMV’s financial position, we have now completed a review of the store portfolio and have identified 66 loss-making stores for closure.

‘This step has been taken in order to enhance the prospects of securing the business’ future as a going concern.

‘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.’

Nick Edwards, Rob Harding and Neville Kahn were appointed Joint Administrators of HMV on 15 January 15.