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15/01/2013
HMV Appoints Administrator
Over 4000 retail jobs are at risk after HMV announced it has gone into administration.
Deloitte will keep the music and DVD chains 239 stores in the UK and the Republic of Ireland open while it assesses the prospects for the business and seeks potential buyers.
Trading in HMV shares on the London Stock Exchange has been suspended.
The firm said it would not be accepting gift vouchers or issuing any more.
In its statement, HMV said: "The board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection and in the circumstances therefore intends to file notice to appoint administrators to the company and certain of its subsidiaries with immediate effect."
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Deloitte will keep the music and DVD chains 239 stores in the UK and the Republic of Ireland open while it assesses the prospects for the business and seeks potential buyers.
Trading in HMV shares on the London Stock Exchange has been suspended.
The firm said it would not be accepting gift vouchers or issuing any more.
In its statement, HMV said: "The board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection and in the circumstances therefore intends to file notice to appoint administrators to the company and certain of its subsidiaries with immediate effect."
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05 April 2013
£50m Rescue Deal For HMV
HMV is to be saved in a £50m deal. Around 2,500 jobs and around 130 stores will be rescued under the new deal, however final details are still to be confirmed. Hilco, the specialist restructuring firm, is expected to sign the agreement that will secure Britain's last remaining independent music retail chain.
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HMV is to be saved in a £50m deal. Around 2,500 jobs and around 130 stores will be rescued under the new deal, however final details are still to be confirmed. Hilco, the specialist restructuring firm, is expected to sign the agreement that will secure Britain's last remaining independent music retail chain.
21 January 2013
HMV To Honour Gift Vouchers
HMV will again accept gift vouchers from Tuesday, according to administrators. Deloitte, who took over operations of the store last Tuesday, had previously said that gift cards would not be redeemed in stores. The administrator said it was now able to honour the vouchers following assessment of HMV's financial position.
HMV To Honour Gift Vouchers
HMV will again accept gift vouchers from Tuesday, according to administrators. Deloitte, who took over operations of the store last Tuesday, had previously said that gift cards would not be redeemed in stores. The administrator said it was now able to honour the vouchers following assessment of HMV's financial position.
03 May 2012
Miller On Course To Become New Rangers Owner
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Miller On Course To Become New Rangers Owner
Bill Miller is on course to become the new owner of Rangers after being granted preferred bidder status today by administrators Duff & Phelps. After weeks of negotiations and discussions, the administrators have announced that the hugely successful American businessman now has the opportunity to complete a purchase for the club.
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Northern Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
