· News

HMV administrators cut another 464 jobs

Administrators for collapsed music retailer HMV have closed a further 37 stores, resulting in 464 job losses.

The latest closures will bring the total number of unemployed HMV staff to 1,500, with a total of 103 stores marked for closure.

HMV currently has 219 stores in the UK, so the latest cuts mean almost half its branches in the UK will be closed.

Nick Edwards, a joint administrator at Deloitte, said: "As part of our ongoing review of HMV's financial position, we have undertaken a further review of the store portfolio and have identified an additional 37 stores for closure. This step has been taken in order to enhance the prospects of the restructured business continuing as a going concern.

"Together with the previously identified 66 closures, this restructuring will result in a residual portfolio of some 116 stores.

"We are extremely grateful to the staff for their continued strong support and commitment during an understandably difficult period. All other key stakeholders including suppliers and landlords remain supportive and we appreciate their ongoing assistance."