Plymouth survives latest round of HMV closures
Plymouth has survived the latest round of closures announced by the administrators of HMV today.
A further 37 stores will close on top of the 66 already announced.
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Plymouth is not on the list to close, but the Torquay branch in South Devon will go over the next four to six weeks.
HMV currently operates from 219 stores in the UK.
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Nick Edwards, Joint Administrator, said: “As part of our ongoing review of HMV’s financial position, we have undertaken a further review of the store portfolio and have identified an additional 37 stores for closure. This step has been taken in order to enhance the prospects of the restructured business continuing as a going concern. Together with the previously identified 66 closures, this restructuring will result in a residual portfolio of some 116 stores.
“We are extremely grateful to the staff for their continued strong support and commitment during an understandably difficult period. All other key stakeholders including suppliers and landlords remain supportive and we appreciate their ongoing assistance.”
Nick Edwards, Rob Harding and Neville Kahn were appointed Joint Administrators of HMV on 15 January 2013.
The additional 37 stores identified for closure are:
Ashford, Basildon, Bolton, Cheltenham, East Kilbride, Enfield, Folkestone, Glasgow Argyle, Gloucester, Grimsby, Hatfield Galleria, Heathrow T5 Departure Level, Heathrow Terminal 1, Heathrow Terminal 3, Heathrow Terminal 4, Hemel Hempstead, High Wycombe, Isle of Wight, Lancaster, Leadenhall, Mansfield, Middlesbrough, Newbury, Newcastle Silverlink, Newport, Nuneaton, Redditch, Salisbury, Scarborough, Southport, Stafford, Staines, Stockport, Swindon, Taunton, Torquay, Woking.
The 66 stores identified for closure, as announced on 7 February, are:
Ashton-under-Lyne, Ballymena, Barnsley, Bayswater, Belfast Boucher Road, Belfast Forestside, Bexleyheath, Birkenhead, Birmingham Fort, Blackburn, Boston, Bournemouth Castlepoint, Bracknell, Burton-upon-Trent, Camberley, Chesterfield, Coleraine, Craigavon, Croydon Centrale, Derry, Dumfries, Durham, Edinburgh Fort, Edinburgh Gyle Centre, Edinburgh Ocean, Edinburgh Princes Street, Edinburgh St James, Falkirk, Fulham, Glasgow – Fort, Glasgow – Silverburn, Glasgow Braehead, Huddersfield, Kirkcaldy, Leamington Spa, Leeds White Rose, Lisburn, Loughborough, Luton, Manchester 90, Moorgate, Newry, Newtonabbey, Orpington, Rochdale, Scunthorpe, South Shields, Speke Park, St Albans, St Helens, Stockton-on-Tees, Tamworth, Teesside, Telford, Trocadero, Wakefield, Walsall, Walton-on-Thames, Wandsworth, Warrington, Watford, Wellingborough, Wigan, Wood Green, Workington, Wrexham.
5 Comments
by tim_bucktoo
Friday, February 22 2013, 2:50PM
“They have no stock because their suppliers won't supply them! Stores like HMV don't actually own their stock. They hold it until it is sold, at which point they reimburse the supplier. Being in the predicament they are, suppliers won't supply them as there is a risk they won't see the money for the goods! The worse example of this I can recall was Past Times. When they went bump, their small suppliers lost an absolute fortune!”
by MissAnthrope
Wednesday, February 20 2013, 10:53PM
“Just because there is no stock doesn't mean people can't still visit the stores. They could meet and talk about news and current affairs for instance, or swap recipes or patterns. Honestly you lot are so negative. Try using your imagination once in a while.”
by coppersmith
Wednesday, February 20 2013, 8:43PM
“bring back Moons and Pete Russells”
by why_me
Wednesday, February 20 2013, 3:03PM
“How is it still open if it doesn't have any stock? One a rare visit last week, some DVD sections were three-quarters empty. As they're not stocking new releases either, what's the point?”
by why_me
Wednesday, February 20 2013, 2:57PM
“There's no point in keeping the stores open if they don't have any stock. When I made a rare visit last week, some DVD sections were three-quarters empty. As they're not stocking any new releases either, what's the point?”