25 HMV stores earmarked for closure have been saved

Major HMV stores that were originally due to be closed have been saved, MCV can confirm.

That includes outlets in Manchester and Edinburgh. Originally HMV was going to close all its stores in Scotland’s capital, but now there will still be three stores, including its flagship outlet in Princes Street.

The retailer has originally planned to close over 100 stores, but that number has been significantly reduced. In total over 140 HMV stores will be saved, including over 130 HMV-branded outlets and 9 Fopp stores.

A source at HMV told MCV this morning that the remaining stores, pre-administration, accounted for 70 per cent of the company’s turnover.

Although HMV was not able to comment on the reports. MCV now understands that a deal is imminent. It could be announced today, but proceedings might last into the weekend.

It’s not all good news, HMV Ireland is still heavily hit by closures with 16 lost stores overall.

About MCV Staff

Check Also

What’s next for Xbox – ‘The bottom line is that we simply put out more top quality games in front of more people than other companies’

Microsoft refines its strategy and releases engagement figures to back up its direction to date