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HMV to close all stores in Ireland

Greg Lockley
HMV to close all stores in Ireland

HMV has announced it is set to close all of its stores located in Ireland after its search for a buyer failed.

The retailer will close all 16 of its retail locations based in the Republic of Ireland as administrator for the brand, Deloitte, failed to secure a buyer.

300 jobs are expected to be lost following the closures.

All of HMV's stores based in Ireland closed their doors and staff placed on temporary lay-off after the brand entered into administration last month.

HMV issued a statement to the Irish Examiner following the announcement, stating: "Since his appointment, the receiver has conducted an assessment of the viability of the company and has actively sought a sale."

"The marketplace is very difficult given competition from web-based retailers and digital downloads, compounded by a number of other factors including high levels of rent.

"All stores were loss making and it was not possible to attract a purchaser."

Meanwhile, Deloitte continues its search for a buyer for HMV's business after closing down 66 of the brand's UK stores last week, which resulting in the loss of 930 jobs.

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Tags: Retail, losses, hmv, store, job, ireland, deloitte, closures

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