HMV are set to shut all their shops in the Republic of Ireland, causing a loss of 600 jobs.
This news is the latest chapter of financial restructuring since their administrators took over the company last month.
The music chain released the statement:
“Since his appointment, the receiver has conducted an assessment of the viability of the company and has actively sought a sale. The marketplace is very difficult given competition from web-based retailers and digital downloads, compounded by a number of other factors including high levels of rent. All stores were loss-making and it was not possible to attract a purchaser.”
Last week, it was announced that HMV’s administrators are considering bids of up to £9 million for its flagship store in Oxford Street.
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