https://www.theguardian.com/business/2018/dec/28/hmv-on-brink-second-collapse-administration
HMV collapses into administration, putting 2,200 jobs at risk
Its 125 UK stores will remain open while talks with suppliers and potential buyers continue
Angela Monaghan and Sarah Butler
Fri 28 Dec 2018 23.58 GMT First published on Fri 28 Dec 2018 09.06 GMT
Shares
10,428
An HMV store in central London – the market for DVDs fell by more than 30% this Christmas. Photograph: Niklas Halle’n/Getty
HMV has become the first casualty of a slump in Christmas trade on the high street, collapsing into administration for the second time in six years and putting more than 2,200 jobs at risk.
The music and film retailer – which accounts for nearly a third of all physical music sales in the UK and nearly a quarter of all DVD sales – appointed insolvency experts from the accountancy firm KPMG as joint administrators at high court hearing late on Friday evening, to either find a buyer for the business or close it down.
HMV said retailers of all types were facing “a tsunami of challenges”, festive trading had been “extremely weak” and sales of DVDs across the market had plunged by 30% on last year’s levels. Its 125 UK stores will remain open while talks with suppliers and potential buyers continue.
Guardian Today: the headlines, the analysis, the debate - sent direct to you
Read more
Will Wright, partner at KPMG and joint administrator, said: “Whilst we understand that [HMV] has continued to outperform the overall market decline in physical music and visual sales, as well as growing a profitable ecommerce business, the company has suffered from the ongoing wave of digital disruption sweeping across the entertainment industry. This has been in addition to the ongoing pressures facing many high street retailers, including weakening consumer confidence, rising costs and business rates pressures.
“Over the coming weeks, we will endeavour to continue to operate all stores as a going concern while we assess options for the business, including a possible sale. Customers with gift cards are advised that the cards will be honoured as usual, while the business continues to trade.”
However, Alex Neill from the consumer group Which? advised anyone with HMV vouchers to spend them as soon as possible. She added: “If you have recently bought anything from HMV, you may not be able to claim a refund or exchange the item if the company ceases trading.”
The 97-year-old retailer, which also owns the nine-store Fopp chain, was rescued by Hilco, a restructuring company, when it collapsed in 2013.
Paul McGowan, the executive chairman of HMV and Hilco, said the decline in the CD and DVD market had made the situation in the UK impossible.
“During the key Christmas trading period the market for DVDs fell by over 30% compared to the previous year and while HMV performed considerably better than that, such a deterioration in a key sector of the market is unsustainable,” he said.
“HMV has clearly not been insulated from the general malaise of the UK high street and has suffered the same challenges with business rates and other government-centric policies, which have led to increased fixed costs in the business.
“Business rates alone represent an annual cost to HMV in excess of £15m. Even an exceptionally well-run and much-loved business such as HMV cannot withstand the tsunami of challenges facing UK retailers over the last 12 months, on top of such a dramatic change in consumer behaviour in the entertainment market.”
Quick guide The history of HMV
HMV’s latest troubles are a sign of the problems facing entertainment retailers during a period of rapid change for the industry, with competition ranging from online specialists to streaming sites such as Netflix and Spotify. There are now nearly 10 million subscribers to Netflix in the UK – more than the number of homes signed up to Sky’s satellite TV service.
HMV is also suffering from the wider downturn on UK high streets, as shoppers buy more goods on the internet and rein in spending amid Brexit uncertainty while costs are on the rise. The number of shoppers on UK high streets was down by up to 4% over the Christmas period, according to the research group Springboard.
No end in sight to UK high street retailers' troubles
Read more
A new survey of mid-sized retailers published on Friday by accountants BDO showed sales at traditonal shops down nearly 5% in the week to 24 December, suggesting a hoped-for boost from last-minute purchases over the final pre-Christmas weekend did not materialise. Online sales rose 17%.
The problems facing retailers led to an increase of more than 4,400 shops, pubs and restaurants lying empty in the first six months of this year, according to analysts at LDC; more than double the increase ever previously recorded.
Mike Ashley, the founder and chief executive of Sports Direct, warned before Christmas that this November was the “worst on record” for retailers and would “literally smash them to pieces”.
Bonmarché, a budget womenswear retailer, said conditions were “unprecedented” and worse than the 2008 recession as it warned the 300-store chain could make a loss this year because of weak trading.
More than £1.3bn was wiped off the value of the online fashion retailer Asos the week before Christmas when it unveiled a shock profit warning after having to offer “unprecedented” discounts to attract shoppers. Other major high street names, including Primark, John Lewis and Superdry, also sounded the alarm on trading conditions in the run-up to Christmas, and more retailers are expected to follow.
Kim Bayley, the chief executive of the Entertainment Retailers Association, said it had been “a tough fourth quarter for retailers” and that other retailers could also be facing serious problems: “HMV is not the only high street name facing tough decisions right now. It is a fast-moving situation and it is too early to say how it will end.”
Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk
She said the entertainment industry had been hit particularly hard this year, as the structural shift to digital had combined with the lack of blockbuster music and movie releases such as last year’s Ed Sheeran album.
However, Bayley insisted there was still a place for shops selling CDs and DVDs: “The fact is the physical entertainment market is still worth up to £2bn a year, so there is plenty of business there.”
HMV made a pre-tax loss of nearly £8.8m in the year to January 2017, widening from £8.4m a year before. However. it is understood that a considerable number of its stores remain profitable.
Turnaround experts suggested KPMG would find it tough to sell HMV as a going concern as the company had only about £1m of property assets as of January last year and was the “last man standing” in a declining market. The uncertainty of Brexit is also likely to put off potential buyers.
A report by KPMG and Ipsos Retail Think Tank warned earlier this week there would be “more casualties to come” on the high street as the battle to win customers and stay afloat will intensify in 2019.
https://www.express.co.uk/news/uk/1...on-is-HMV-closing-down-when-HMV-collapse-sale
HMV administration: Is HMV closing down? When did HMV collapse last?
MUSIC store HMV is on the brink of collapse for the second time, putting thousands of jobs at risk. Is HMV closing down? When did HMV collapse last?
By Liam Doyle
PUBLISHED: 08:53, Fri, Dec 28, 2018 | UPDATED: 10:10, Fri, Dec 28, 2018
7
Police start new dig for Suzy Lamplugh, missing since 1986
Current Time 0:47
/
Duration 2:09
HMV may well be the biggest high street music retailer in the UK, but the firm is now on the brink of collapse for the second time in six years. The firm is said to have filed a notice of intention to appoint administrators, putting 2,200 jobs at risk according to Sky News. HMV Retail is said to have attempted to seek financial support from leading names in the record music industry before sending off the paperwork last week.
Related articles
The chain trades from 130 shops and employs about 2,200 people.
Sources say HMV bosses had been in talks in recent days with leading names in the recorded music industry to seek financial support from them.
Promoted Story
It is not known as yet whether stores will be forced to close.
HMV administration: HMV is on the brink of collapse (Image: GETTY)
When did HMV last collapse? What happened?
HMV, which was then a publicly traded company, fell into administration in January 2013.
The music giant was rescued from administrators almost six years ago after being purchased by Hilco for a deal worth £50 million.
They have been quick to blame their second round of administration on declining CD and DVD sales.
Related articles
HMV administration: The firm says 2,000 jobs are at risk (Image: GETTY)
This year saw a dramatic decrease in demand for a vital period of shopping for HMV.
According to HMV executive chairman Paul McGowan, the current market has forced an "unsustainable" situation.
In a statement, he said: “During the key Christmas trading period the market for DVD fell by over 30% compared to the previous year and, whilst HMV performed considerably better than that, such a deterioration in a key sector of the market is unsustainable.
“HMV has clearly not been insulated from the general malaise of the UK High Street and has suffered the same challenges with Business Rates and other government-centric policies which have led to increased fixed costs in the business.
“Business rates alone represent an annual cost to HMV in excess of £15m."
Amazon and other online retailers are dominating the shopping scene and sweeping sales (Image: GETTY)
"Even an exceptionally well-run and much-loved business such as HMV cannot withstand the tsunami of challenges facing UK retailers over the last 12 months on top of such a dramatic change in consumer behaviour in the entertainment market."
HMV isn't the only retailer which has been facing major problems on the high street, with many stores still recovering from a difficult two months.
November and early December in particular failed to pull shoppers in from the high street.
Online retailers have been heavily favoured in their stead, and Brexit uncertainty has led many to reign in their spending.
https://www.chroniclelive.co.uk/business/hmv-administration-closing-down-jobs-15603486
HMV administration: Music retailer on the brink of collapse with 2,200 jobs at risk
HMV, which has stores in Newcastle, Gateshead and Sunderland is on the brink of administration
By
James Moore
HMV Retail faces going into administration for the second time in six years (Image: Getty Images)
by Taboola
The whirlwind romance of a Jersey Boy and a Geordie girl
Newcastle player ratings: Impressive Jonjo Shelvey stars for United
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Music retailer HMV is at risk of becoming the first high street casualty after Christmas as it teeters on the brink of administration.
The group, which trades from 130 stores and employs 2,200 staff, has filed a notice of intention to appoint administrators amid a cash crisis at the firm.
If HMV was to go bust, it would be the second time it has collapsed in recent years, having filed for administration in 2013, after which it was acquired by its current owner, Hilco.
There are stores in Eldon Square in Newcastle, the Metrocentre in Gateshead and in Sunderland
KPMG is understood to be waiting in the wings to undertake the process, with an administration set to be announced as early as Friday.
HMV's potential collapse was first reported by Sky News.
Read More
Today's other news stories
High business rates, weak consumer confidence and the rise of online streaming services will have taken their toll on HMV.
The failure of another major high street name before the year is up would cap a miserable 12 months for the retail sector.
The likes of Poundworld, Toys'R'Us and Maplin have all gone bust this year, while heavyweights Marks & Spencer and Debenhams have announced plans to shutter hundreds of stores.
Several others - including Superdry, Carpetright and Card Factory - have all issued profit warnings.
High street retailers have been slashing prices after brutal trading in November and early December failed to lure shoppers to stores.
Traditional retailers have been battling the rise of online shopping, higher costs and low consumer confidence as shoppers rein in spending amid Brexit uncertainty.
KPMG and Hilco, which also owns Homebase, declined to comment.
https://www.mirror.co.uk/money/full-list-hmv-stores-risk-13785534
Full list of HMV stores at risk of closing as retailer enters administration
HMV - the UK's last remaining nationwide, specialist retailer of music and film products - has entered administration. These are the stores at risk of closing
By
James AndrewsMoney Editor
Click to play
HMV on the brink of administration with 2,200 jobs at risk
by Taboola
HMV reported to be on the brink of collapse with 2,200 jobs at risk
John Lewis launches Boxing Day sale - and it includes cheap Dysons
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See our privacy noticeMore newsletters
For the second time in six years HMV has entered administration.
Last time around investment firm Hilco stepped in, saving 141 stores and around 2,500 jobs.
Now even they feel time could be up for the UK's biggest retailer of physical music.
Paul McGowan, executive chairman of HMV and Hilco, said: “During the key Christmas trading period the market for DVD fell by over 30% compared to the previous year and, whilst HMV performed considerably better than that, such a deterioration in a key sector of the market is unsustainable."
He pointed to high taxes, the "general malaise" of the UK high street and a move by the public to stream music, films and TV box sets - while the likes of Steam mean games are now also bought online with no physical component.
Read More
Full list of shops at risk
The stores that could close their doors for good (Image: Rex)
Talks are ongoing to find a new owner, but as things stand, these are the stores at risk of closing their doors for good.
These are where they are:
-Ayr
-Banbury
-Basingstoke
-Belfast
-Birmingham Bullring
-Blackpool
-Bluewater
-Bradford
-Brighton
-Bristol (Fopp)
-Bristol Broadmead
-Bromley
-Boston
-Burton-on-Trent
-Bury
-Bury St Edmunds
-Cardiff
-Carlisle
-Castleford
-Chelmsford
-Cheltenham
-Chester
-Chichester
-Colchester
-Covent Garden (Fopp)
-Coventry
-Crawley
-Croydon
-Cwmbran
-Darlington
-Derby
-Doncaster
-Dundee
-East Kilbride
-Edinburgh Ocean Terminal
-Edinburgh (Fopp)
-Exeter
-Gateshead
-Glasgow Argyle Street
-Glasgow Byres (Fopp)
-Glasgow Union (Fopp)
-Gloucester
-Grimsby
-Guildford
-Hanley (Stoke-on-Trent)
-Harlow
-Harrogate
-Hastings
-Hereford
-High Wycombe
-Huddersfield
-Hull
-Inverness
-Ipswich
-Kettering
-King's Lynn
-Kingston-Upon-Thames
-Leeds
-Leicester
-Lincoln
-Liverpool LiverpoolOne
-Livingston
-Llandudno
-Maidstone
-Manchester, Arndale
-Manchester (Fopp)
-Manchester Trafford Centre
-Mansfield
-Middlesbrough
-Milton Keynes
-Newcastle
-Northampton
-Norwich Chapelfield
-Nottingham (Fopp)
-Nottingham Victoria
-Nuneaton
-Oxford
-Oxford Street, London W1
-Peterborough
-Poole
-Portsmouth Gun Wharf
-Preston
-Plymouth
-Reading
-Redditch
-Romford
-Sheffield High Street
-Sheffield Meadowhall
-Shrewsbury
-Solihull
-Southend
-Southport
-Staines
-Stevenage
-Stirling
-Stockport
-Sunderland
-Swansea
-Swindon
-Taunton
-Telford
-Thanet
-Thurrock
-Truro
-Tunbridge Wells
-Uxbridge
-Watford
-Westfield White City
-Wimbledon
-Winchester
-Wolverhampton
-Worcester
-Workington
-Worthing
HMV collapses into administration, putting 2,200 jobs at risk
Its 125 UK stores will remain open while talks with suppliers and potential buyers continue
Angela Monaghan and Sarah Butler
Fri 28 Dec 2018 23.58 GMT First published on Fri 28 Dec 2018 09.06 GMT
Shares
10,428
An HMV store in central London – the market for DVDs fell by more than 30% this Christmas. Photograph: Niklas Halle’n/Getty
HMV has become the first casualty of a slump in Christmas trade on the high street, collapsing into administration for the second time in six years and putting more than 2,200 jobs at risk.
The music and film retailer – which accounts for nearly a third of all physical music sales in the UK and nearly a quarter of all DVD sales – appointed insolvency experts from the accountancy firm KPMG as joint administrators at high court hearing late on Friday evening, to either find a buyer for the business or close it down.
HMV said retailers of all types were facing “a tsunami of challenges”, festive trading had been “extremely weak” and sales of DVDs across the market had plunged by 30% on last year’s levels. Its 125 UK stores will remain open while talks with suppliers and potential buyers continue.
Guardian Today: the headlines, the analysis, the debate - sent direct to you
Read more
Will Wright, partner at KPMG and joint administrator, said: “Whilst we understand that [HMV] has continued to outperform the overall market decline in physical music and visual sales, as well as growing a profitable ecommerce business, the company has suffered from the ongoing wave of digital disruption sweeping across the entertainment industry. This has been in addition to the ongoing pressures facing many high street retailers, including weakening consumer confidence, rising costs and business rates pressures.
“Over the coming weeks, we will endeavour to continue to operate all stores as a going concern while we assess options for the business, including a possible sale. Customers with gift cards are advised that the cards will be honoured as usual, while the business continues to trade.”
However, Alex Neill from the consumer group Which? advised anyone with HMV vouchers to spend them as soon as possible. She added: “If you have recently bought anything from HMV, you may not be able to claim a refund or exchange the item if the company ceases trading.”
The 97-year-old retailer, which also owns the nine-store Fopp chain, was rescued by Hilco, a restructuring company, when it collapsed in 2013.
Paul McGowan, the executive chairman of HMV and Hilco, said the decline in the CD and DVD market had made the situation in the UK impossible.
“During the key Christmas trading period the market for DVDs fell by over 30% compared to the previous year and while HMV performed considerably better than that, such a deterioration in a key sector of the market is unsustainable,” he said.
“HMV has clearly not been insulated from the general malaise of the UK high street and has suffered the same challenges with business rates and other government-centric policies, which have led to increased fixed costs in the business.
“Business rates alone represent an annual cost to HMV in excess of £15m. Even an exceptionally well-run and much-loved business such as HMV cannot withstand the tsunami of challenges facing UK retailers over the last 12 months, on top of such a dramatic change in consumer behaviour in the entertainment market.”
Quick guide The history of HMV
HMV’s latest troubles are a sign of the problems facing entertainment retailers during a period of rapid change for the industry, with competition ranging from online specialists to streaming sites such as Netflix and Spotify. There are now nearly 10 million subscribers to Netflix in the UK – more than the number of homes signed up to Sky’s satellite TV service.
HMV is also suffering from the wider downturn on UK high streets, as shoppers buy more goods on the internet and rein in spending amid Brexit uncertainty while costs are on the rise. The number of shoppers on UK high streets was down by up to 4% over the Christmas period, according to the research group Springboard.
No end in sight to UK high street retailers' troubles
Read more
A new survey of mid-sized retailers published on Friday by accountants BDO showed sales at traditonal shops down nearly 5% in the week to 24 December, suggesting a hoped-for boost from last-minute purchases over the final pre-Christmas weekend did not materialise. Online sales rose 17%.
The problems facing retailers led to an increase of more than 4,400 shops, pubs and restaurants lying empty in the first six months of this year, according to analysts at LDC; more than double the increase ever previously recorded.
Mike Ashley, the founder and chief executive of Sports Direct, warned before Christmas that this November was the “worst on record” for retailers and would “literally smash them to pieces”.
Bonmarché, a budget womenswear retailer, said conditions were “unprecedented” and worse than the 2008 recession as it warned the 300-store chain could make a loss this year because of weak trading.
More than £1.3bn was wiped off the value of the online fashion retailer Asos the week before Christmas when it unveiled a shock profit warning after having to offer “unprecedented” discounts to attract shoppers. Other major high street names, including Primark, John Lewis and Superdry, also sounded the alarm on trading conditions in the run-up to Christmas, and more retailers are expected to follow.
Kim Bayley, the chief executive of the Entertainment Retailers Association, said it had been “a tough fourth quarter for retailers” and that other retailers could also be facing serious problems: “HMV is not the only high street name facing tough decisions right now. It is a fast-moving situation and it is too early to say how it will end.”
Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk
She said the entertainment industry had been hit particularly hard this year, as the structural shift to digital had combined with the lack of blockbuster music and movie releases such as last year’s Ed Sheeran album.
However, Bayley insisted there was still a place for shops selling CDs and DVDs: “The fact is the physical entertainment market is still worth up to £2bn a year, so there is plenty of business there.”
HMV made a pre-tax loss of nearly £8.8m in the year to January 2017, widening from £8.4m a year before. However. it is understood that a considerable number of its stores remain profitable.
Turnaround experts suggested KPMG would find it tough to sell HMV as a going concern as the company had only about £1m of property assets as of January last year and was the “last man standing” in a declining market. The uncertainty of Brexit is also likely to put off potential buyers.
A report by KPMG and Ipsos Retail Think Tank warned earlier this week there would be “more casualties to come” on the high street as the battle to win customers and stay afloat will intensify in 2019.
https://www.express.co.uk/news/uk/1...on-is-HMV-closing-down-when-HMV-collapse-sale
HMV administration: Is HMV closing down? When did HMV collapse last?
MUSIC store HMV is on the brink of collapse for the second time, putting thousands of jobs at risk. Is HMV closing down? When did HMV collapse last?
By Liam Doyle
PUBLISHED: 08:53, Fri, Dec 28, 2018 | UPDATED: 10:10, Fri, Dec 28, 2018
7
Police start new dig for Suzy Lamplugh, missing since 1986
Current Time 0:47
/
Duration 2:09
HMV may well be the biggest high street music retailer in the UK, but the firm is now on the brink of collapse for the second time in six years. The firm is said to have filed a notice of intention to appoint administrators, putting 2,200 jobs at risk according to Sky News. HMV Retail is said to have attempted to seek financial support from leading names in the record music industry before sending off the paperwork last week.
Related articles
-
Red-hot HMV closing gap on rivals Amazon -
HMV on brink of COLLAPSE: Music retailer 'close to administration'
The chain trades from 130 shops and employs about 2,200 people.
Sources say HMV bosses had been in talks in recent days with leading names in the recorded music industry to seek financial support from them.
Promoted Story
It is not known as yet whether stores will be forced to close.
HMV administration: HMV is on the brink of collapse (Image: GETTY)
When did HMV last collapse? What happened?
HMV, which was then a publicly traded company, fell into administration in January 2013.
The music giant was rescued from administrators almost six years ago after being purchased by Hilco for a deal worth £50 million.
They have been quick to blame their second round of administration on declining CD and DVD sales.
Related articles
-
This week's must-have accessories from Cath Kidston, Joules, Amazon -
HMV on brink of COLLAPSE: Music retailer 'close to administration'
HMV administration: The firm says 2,000 jobs are at risk (Image: GETTY)
This year saw a dramatic decrease in demand for a vital period of shopping for HMV.
According to HMV executive chairman Paul McGowan, the current market has forced an "unsustainable" situation.
In a statement, he said: “During the key Christmas trading period the market for DVD fell by over 30% compared to the previous year and, whilst HMV performed considerably better than that, such a deterioration in a key sector of the market is unsustainable.
“HMV has clearly not been insulated from the general malaise of the UK High Street and has suffered the same challenges with Business Rates and other government-centric policies which have led to increased fixed costs in the business.
“Business rates alone represent an annual cost to HMV in excess of £15m."
Amazon and other online retailers are dominating the shopping scene and sweeping sales (Image: GETTY)
"Even an exceptionally well-run and much-loved business such as HMV cannot withstand the tsunami of challenges facing UK retailers over the last 12 months on top of such a dramatic change in consumer behaviour in the entertainment market."
HMV isn't the only retailer which has been facing major problems on the high street, with many stores still recovering from a difficult two months.
November and early December in particular failed to pull shoppers in from the high street.
Online retailers have been heavily favoured in their stead, and Brexit uncertainty has led many to reign in their spending.
https://www.chroniclelive.co.uk/business/hmv-administration-closing-down-jobs-15603486
HMV administration: Music retailer on the brink of collapse with 2,200 jobs at risk
HMV, which has stores in Newcastle, Gateshead and Sunderland is on the brink of administration
- Share
- 31 shares
- Comments
By
James Moore
- 09:27, 28 DEC 2018
- Updated10:05, 28 DEC 2018
by Taboola
The whirlwind romance of a Jersey Boy and a Geordie girl
Newcastle player ratings: Impressive Jonjo Shelvey stars for United
Get business updates directly to your inbox
See our privacy noticeMore newsletters
Music retailer HMV is at risk of becoming the first high street casualty after Christmas as it teeters on the brink of administration.
The group, which trades from 130 stores and employs 2,200 staff, has filed a notice of intention to appoint administrators amid a cash crisis at the firm.
If HMV was to go bust, it would be the second time it has collapsed in recent years, having filed for administration in 2013, after which it was acquired by its current owner, Hilco.
There are stores in Eldon Square in Newcastle, the Metrocentre in Gateshead and in Sunderland
KPMG is understood to be waiting in the wings to undertake the process, with an administration set to be announced as early as Friday.
HMV's potential collapse was first reported by Sky News.
Read More
Today's other news stories
High business rates, weak consumer confidence and the rise of online streaming services will have taken their toll on HMV.
The failure of another major high street name before the year is up would cap a miserable 12 months for the retail sector.
The likes of Poundworld, Toys'R'Us and Maplin have all gone bust this year, while heavyweights Marks & Spencer and Debenhams have announced plans to shutter hundreds of stores.
Several others - including Superdry, Carpetright and Card Factory - have all issued profit warnings.
High street retailers have been slashing prices after brutal trading in November and early December failed to lure shoppers to stores.
Traditional retailers have been battling the rise of online shopping, higher costs and low consumer confidence as shoppers rein in spending amid Brexit uncertainty.
KPMG and Hilco, which also owns Homebase, declined to comment.
https://www.mirror.co.uk/money/full-list-hmv-stores-risk-13785534
Full list of HMV stores at risk of closing as retailer enters administration
HMV - the UK's last remaining nationwide, specialist retailer of music and film products - has entered administration. These are the stores at risk of closing
- Share
- 3914 shares
- Comments
By
James AndrewsMoney Editor
- 10:48, 28 DEC 2018
- Updated11:38, 28 DEC 2018
Click to play
HMV on the brink of administration with 2,200 jobs at risk
by Taboola
HMV reported to be on the brink of collapse with 2,200 jobs at risk
John Lewis launches Boxing Day sale - and it includes cheap Dysons
Get money updates directly to your inbox
See our privacy noticeMore newsletters
For the second time in six years HMV has entered administration.
Last time around investment firm Hilco stepped in, saving 141 stores and around 2,500 jobs.
Now even they feel time could be up for the UK's biggest retailer of physical music.
Paul McGowan, executive chairman of HMV and Hilco, said: “During the key Christmas trading period the market for DVD fell by over 30% compared to the previous year and, whilst HMV performed considerably better than that, such a deterioration in a key sector of the market is unsustainable."
He pointed to high taxes, the "general malaise" of the UK high street and a move by the public to stream music, films and TV box sets - while the likes of Steam mean games are now also bought online with no physical component.
Read More
Full list of shops at risk
The stores that could close their doors for good (Image: Rex)
Talks are ongoing to find a new owner, but as things stand, these are the stores at risk of closing their doors for good.
These are where they are:
-Ayr
-Banbury
-Basingstoke
-Belfast
-Birmingham Bullring
-Blackpool
-Bluewater
-Bradford
-Brighton
-Bristol (Fopp)
-Bristol Broadmead
-Bromley
-Boston
-Burton-on-Trent
-Bury
-Bury St Edmunds
-Cardiff
-Carlisle
-Castleford
-Chelmsford
-Cheltenham
-Chester
-Chichester
-Colchester
-Covent Garden (Fopp)
-Coventry
-Crawley
-Croydon
-Cwmbran
-Darlington
-Derby
-Doncaster
-Dundee
-East Kilbride
-Edinburgh Ocean Terminal
-Edinburgh (Fopp)
-Exeter
-Gateshead
-Glasgow Argyle Street
-Glasgow Byres (Fopp)
-Glasgow Union (Fopp)
-Gloucester
-Grimsby
-Guildford
-Hanley (Stoke-on-Trent)
-Harlow
-Harrogate
-Hastings
-Hereford
-High Wycombe
-Huddersfield
-Hull
-Inverness
-Ipswich
-Kettering
-King's Lynn
-Kingston-Upon-Thames
-Leeds
-Leicester
-Lincoln
-Liverpool LiverpoolOne
-Livingston
-Llandudno
-Maidstone
-Manchester, Arndale
-Manchester (Fopp)
-Manchester Trafford Centre
-Mansfield
-Middlesbrough
-Milton Keynes
-Newcastle
-Northampton
-Norwich Chapelfield
-Nottingham (Fopp)
-Nottingham Victoria
-Nuneaton
-Oxford
-Oxford Street, London W1
-Peterborough
-Poole
-Portsmouth Gun Wharf
-Preston
-Plymouth
-Reading
-Redditch
-Romford
-Sheffield High Street
-Sheffield Meadowhall
-Shrewsbury
-Solihull
-Southend
-Southport
-Staines
-Stevenage
-Stirling
-Stockport
-Sunderland
-Swansea
-Swindon
-Taunton
-Telford
-Thanet
-Thurrock
-Truro
-Tunbridge Wells
-Uxbridge
-Watford
-Westfield White City
-Wimbledon
-Winchester
-Wolverhampton
-Worcester
-Workington
-Worthing
