Posted by: youngragingbull | January 15, 2013

HMV to enter bankruptcy

British music and entertainment retailer HMV says it is preparing to enter a form of bankruptcy after failing to secure a reprieve from its lenders.

The company said in a statement that it is unable to trade “outside of insolvency protection” and would go into a type of bankruptcy called administration.

HMV has approximately 200 stores in Britain, Ireland, Singapore and Hong Kong and employs more than 4,000 people.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: