There are fears for nearly 300 jobs in Ireland – after HMV announced last night that it’s to appoint an administrator.
The company has seen a major slump in sales due to online competition and its underlying debt stood at over 176 million pounds sterling at its half year to 27th of October.
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Overall the music and DVD retailer employs over 4,000 people in Ireland and the UK – with more then 250 stores across both countries.
Deloitte has been appointed as the administrators and intends to keep the business running until a potential buyer can be found – however customers are being advised that from today – HMV gift vouchers will not be honoured as payment.
