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British music retailer HMV files for insolvency; puts 2,200 jobs at risk

The retailer, one of Britain's best-known high street stores, went into administration in 2013 before its rescue by restructuring specialist Hilco

Reuters 

Music retailer HMV said it was calling in the administrators, blaming a worsening market for CDs and DVDs, to become the latest victim of brutal trading conditions in Britain's retail sector. The accounting firm KPMG has been named as the administrator and intends to keep the business running while it seeks a potential buyer, HMV said in a statement on Friday. The retailer, one of Britain's best-known high street stores, went into administration in 2013 before its rescue by restructuring specialist Hilco, but it has since been hit by competition from online rivals and ...

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First Published: Fri, December 28 2018. 18:24 IST
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