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.
Wholesale / Retail Retail trade Retail sale of cultural and recreational goods 47.69 - Retail sale of cultural and recreational goods n.e.c.
300 jobs Number of planned job losses
Announcement Date
11 February 2013
Employment effect (start)
Foreseen end date
12 February 2013
Description
The insolvent music and entertainment retail chain HMV will close all Irish stores, resulting in 300 redundancies. Deloitte, who was appointed receiver of the entertainment retail chain, confirmed that the 16 stores in the Republic will not reopen and the 300 staff who were previously placed on temporary lay-offs will be made redundant.
According to the receiver, this step is necessary as HMV stores were loss making and it was not possible to attract new investors.
Sources
12 February 2013: The Irish Times
Citation
Eurofound (2013), HMV, Bankruptcy in Ireland, factsheet number 74952, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74952.
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