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Hope for HMV which could save Worthing jobs

W03400H13-HMV - W03404H13-HMV  160113  LP

HMV stores in Worthing which is threatened by closure.

W03400H13-HMV - W03404H13-HMV 160113 LP HMV stores in Worthing which is threatened by closure.

  • by Neill Barston
 

JOBS at HMV in Worthing could be saved, with a deal being struck to take on the multi-million debt of the company.

Hilco, which owns the Canadian arm of the music and DVD retailer, has agreed a move which could see the firm emerging out of its administration.

There had been a huge outpouring of support for the company after news of its potential demise broke earlier this month.

But with the firm reportedly carrying debts of around £176 million, the company ran into financial difficulty under pressure from internet entertainment firms.

HMV employs around 4,000 people across the UK and in many towns, including Worthing, it is now the only major music retailer remaining.

Store administrators Deloitte have confirmed the store is now accepting gift cards, after the company attracted considerable criticism for suddenly announcing a block on their use.

 

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