HMV to close up to 100 stores this week

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HMV’s administrators, Deloitte are set to close between 60 and 100 stores nationwide this week, reports say.

The music retailers currently have 223 High Street shops, which means they could downsize by 50% and lose up to 1,500 jobs.

It’s also been reported that one of the company’s flagship stores situated in Oxford Street and Piccadilly Circus will be among those shut.

It was revealed last week that HMV’s decline has boosted January record sales, with the rallying of support for independent stores and chains alike in the aftermath of such financial troubles

HMV originally went into administration last month. The chain employs around 4,000 workers.