Its 125 UK stores will remain open while talks with suppliers and potential buyers continue
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.
● The first HMV shop opened on London’s Oxford Street on 20 July 1921, the ribbons strung across the store’s doors were cut by composer and conductor Sir Edward Elgar. The retailer moved its flagship store back to this original site, at 363 Oxford Street, in 2013.
Related: No end in sight to UK high street retailers' troubles
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