HMV shuts down ROI stores

Following on from the temporary closing of all HMV outlets in Ireland last month – as per Irish law – when the administration was announced, Deloitte, the administrator, has announced that all locations will be permanently shuttered since no buyer has been found for the branch of the firm.

This means over 300 staff will be let go as part of the move, though perhaps since the main HMV business is looking a little healthier than it was a month ago, their severance pay will be better than the paltry lot the GAME employees, that were fired last year, received.

“Since his appointment, the receiver has conducted an assessment of the viability of the company and has actively sought a sale,” HMV said in a statement to the Irish Examiner.  “The marketplace is very difficult given competition from web-based retailers and digital downloads, 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.”

These aren't the first HMV outlets to close of course, with just last week the team of debt buyer Hilco and administrator Deloitte, jointly closed 66 locations and as many as another 100 are expected to be shut down in the next few months.

KitGuru Says: Not a fun time to be an HMV employee. At least those that have been let go can stop worrying and get on and find a new job. Can't be nice for the ones remaining, wondering who's next.

Become a Patron!