News » Bracknell » Articles »

HMV goes into administration

Published: 15 Jan 2013 09:15

STRUGGLING music and film chain HMV has gone into administration, putting more than 4000 jobs under threat.

The company, which has 239 stores including one in Charles Square, Bracknell, hopes to find a buyer and will continue trading for the time being.

Gennaro Castaldo, from HMV, said a store of Bracknell's size would normally employ 10 to 15 staff, with some full-time employees and some part-time.

He said: "We have an administrator coming in with a view to finding a buyer. We are very hopeful that this will not be one of those administrations which ends in the company folding.

"The more our customers can get behind us the better position we will be in. We have 25 per cent off lots of things and there are some great bargains to be had."

The shops will not be accepting gift vouchers.

In a statement yesterday evening (Monday January 14), 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."

Jump to first paragraph.