HMV's Irish stores will not reopen: receiver

Tuesday 12 February 2013 18.32
HMV's marketplace ''very difficult'' says receiver
HMV's marketplace ''very difficult'' says receiver

HMV's 16 stores will not reopen according to the group's receiver, David Carson of Deloitte.

A statement this afternoon confirmed that HMV's 300 staff, who were previously placed on temporary lay-off, will now be made redundant.

Deloitte said that the receiver had assessed the viability of the company and actively sought a sale. It said the marketplace was very difficult given competition from web-based retailers and digital downloads.

Deloitte said this was compounded by a number of other factors including high levels of rent. All stores were loss making and it was not possible to attract a purchaser, it added.