HMV Saved From Collapse, But 27 Stores Close

HMV Saved From Collapse, But 27 Stores Close

Canadian Sunrise Records have purchased famous UK music chain HMV. This purchase by Sunrise Records chief executive Doug Putman beat out offers from others, including Sports Direct owner Mike Ashley. 100 stores will be bought out of administration, which is going to save 1,487 jobs. However, 27 HMV stores will close. This will lead lead to 455 redundancies and a further 122 warehouse jobs will also be lost. Putman stated that he was “delighted to…

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