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More shop gloom at Merry Hill as HMV calls in administrators
10:54am Tuesday 15th January 2013 in News
MORE jobs at Merry Hill are at risk after music chain HMV announced it is to call in the administrators.
The news comes just days after the demise of camera retailer Jessops, which had a store just a few units away from HMV on the upper mall at Merry Hill.
All of HMV’s 239 UK outlets will remain open while administrator Deloitte attempts to find a buyer for some or all of the business – although store closures are likely according to reports.
The firm has been struggling against competition from internet retailers and supermarkets selling cheaper CDs and DVDs - and concerns about HMV’s were raised last week when it announced a month-long, 25 per cent off sale across its stores to shift stock after a poor Christmas.
Around 4,350 jobs are believed to be at risk across the UK. The number of staff working at the Merry Hill store is uncertain.
Trading in HMV shares on the London Stock Exchange has been suspended and the firm has said it will not be accepting gift vouchers or issuing any more.