UK entertainment retailer HMV has been rescued from administration, but 27 of its stores will close – including many flagship sites.
Canadian music entrepreneur and owner of Sunrise Records, Doug Putman has bought the retailer, with plans to keep 100 stores open. However, 27 stores will close with immediate effect, which includes a mix of HMV and Fopp stores.
In a statement, via the Guardian, Putman, said:
“We are delighted to acquire the most iconic music and entertainment business in the UK and add nearly 1,500 employees to our growing team. By catering to music and entertainment lovers, we are incredibly excited about the opportunity to engage customers with a diverse range of physical format content, and replicate our success in Canada.
“We know the physical media business is here to stay and we greatly appreciate all the support from the suppliers, landlords, employees and most importantly our customers.”
It is being reported that 455 people will lose their jobs under the store closures, with more than 100 warehouse jobs set to go too.
Taking to Instagram to confirm the news of the store closures, HMV said:
“HMV is built on the passion of our colleagues. We are sorry to have to say goodbye to some amazing people today. Thank you for your hard work and dedication over the years. We will miss you.”
Fopp followed with a similar post, which began with: “Thank you for all of your kind words on Instagram over the past few weeks. Sorry we have been a bit quiet.”
Of the 27 stores to close, many are the chain’s biggest stores, including sites in London and Manchester.
Which HMV stores are closing?
The following HMV/Fopp are all closing today:
- Bristol Cribbs
- Exeter Princesshay
- Fopp Bristol
- Fopp Glasgow Byres
- Fopp Manchester
- Fopp Oxford
- Glasgow Braehead
- Manchester Trafford
- Merry Hill
- Oxford Street
- Peterborough Queensgate
- Plymouth Drake Circus
- Sheffield Meadowhall
- Tunbridge Wells
- Westfield London
Sad news all round.
Good luck to all those who have lost their jobs today as part of the closures. Hopefully other opportunities will be made available to you shortly.