The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale Of Cultural And Recreation Goods In Specialised Stores 47.63 - Retail sale of music and video recordings in specialised stores
1,500 jobs Number of planned job losses
Announcement Date
31 January 2013
Employment effect (start)
31 January 2013
Foreseen end date
Description
Entertainment retailer HMV has announced that it has reduced the number of staff working in its head office and distribution network. The firm has cut 190 jobs, though no job cuts have been made in stores in the UK. The firm has also announced that it is also to close 66 of its 220 shops by mid April with up to 930 staff being made redundant.
Update 15/3/13
HMV has announced that over 1,500 jobs have been lost in the closures of stores and other redundancies within the company.
Sources
15 March 2013: Insider News
8 February 2013: The Telegraph
31 January 2013: BBC News
Citation
Eurofound (2013), HMV, Bankruptcy in United Kingdom, factsheet number 74900, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74900.
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