HMV Calls In Administrators After Sales Drop
More than 4,000 jobs are at risk after the entertainment retailer calls in Deloitte to take control.
HMV has thrown in the towel after years of struggling to fend off nimbler rivals by calling in administrators in a move which puts more than 4,000 jobs in jeopardy.
As Sky News revealed exclusively on Monday evening, the board of HMV has served notice of its intention to appoint Deloitte to oversee last-ditch efforts to rescue the high street entertainment retailer.
Following a board meeting that lasted several hours, HMV directors, led by chairman Philip Rowley and chief executive Trevor Moore, decided the business could no longer trade without insolvency protection.
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