HMV to appoint administrators tomorrow

hmv pc games logo

According to ITV, HMV will be forced to hand over control to administration firm Deloitte tomorrow.

More below.

Late last year HMV revealed that it was about to breach key loan agreements, and while Christmas figures are not due out till next year it appears that they may be similarly poor to last year’s 16.6% drop in sales.

HMV has 230 stores in the UK and employs more than 4,000 workers. Should HMV not find a bidder during its administration period it may be forced to close many or allof its stores.

The news was broken by ITV’s Laura Kuenssberg.