Company News 

Seven days: 4 January 2019

Seven days: 4 January 2019

HMV goes bust

HMV filed for administration for the second time in six years, after reporting “extremely weak” Christmas trading. The 97-year-old home entertainment retailer – which has been hit by the rapid rise of music and film streaming services such as Spotify and Amazon – appointed KPMG to handle the process, with 125 stores and more than 2,000 jobs at risk. Sales of DVDs have fared particularly badly, according to the executive chairman of HMV and its owner, Hilco's Paul McGowan, down 30 per cent on the comparable Christmas period last year.

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