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HMV (and now Blockbuster) set to go into administration


Black Rose

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HMV: debt-laden retailer appoints administrator

 

HMV, the music and DVD retailer employing about 4,350 staff, has become the latest casualty on the High Street after appointing an administrator.

 

Deloitte was appointed to run the 239-store chain following a meeting of the HMV board on Monday evening, the BBC understands.

 

A formal announcement is expected later.

 

HMV has been in crisis for months, and in December warned it faced a possible breach of bank loan agreements.

 

HMV has faced intense competition from the boom in buying music and DVD online.

 

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