Another one bites the dust, or will they? Music retailer HMV has gone into administration following poor sales in the tough and getting tougher retail music environment.
HMV has apparently suspended its shares from trade on the London Stock Exchange, and announced that they will be appointing Deloitte as administrators to run the company and find a buyer.
HMV claim that they will not be able able to meet debt obligations due at the end of this month. HMV continues to hold retail stores throughout the UK and Ireland, the remaining Australian store closed in 2010.
Hopefully for approximately 4500 employees a buyer is found soon.
