The struggling retailer has confirmed it is to close all of its stores in the Republic of Ireland after failing to secure a buyer

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.

Check Also

Nexudus unveils AI-powered churn and engagement dashboard

Nexudus has unveiled an AI-powered churn and engagement dashboard, an analysis tool created to help …