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
455 jobs Number of planned job losses
Announcement Date
5 February 2019
Employment effect (start)
Foreseen end date
Description
High street music store HMV has been bought out of administration in a deal which will secure the future of 1,487 jobs. The future of the company had been uncertain after administrators were called in, in December 2018, for the second time in six years. The deal to sell the brand to Canadian firm Sunrise Records means that 100 stores will continue to trade. Twenty seven stores, including the company's flagship store in London's Oxford Street, are not part of the deal and will close. The closures will result in the loss of 455 jobs. The timeframe for these closures has not been reported.
Eurofound (2019), HMV, Merger/Acquisition in United Kingdom, factsheet number 96691, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/96691.
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