Jobs at risk as HMV goes into administration (From Haringey Independent)

Jobs at risk at Wood Green store as HMV goes into administration

9:41am Tuesday 15th January 2013 in News By Bruce Thain

Staff face possible redundancy as high street music shop HMV goes into administration, putting 4,350 jobs at risk.

Staffs in the branch in High Road, Wood Green, await further news today about whether the store will close and what will happen to their jobs.

Administrator Deloitte will keep HMV's 239 stores in the UK and the Republic of Ireland open as it tries to find a buyer for the company.

In its statement, HMV said: "The board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection and in the circumstances therefore intends to file notice to appoint administrators to the company and certain of its subsidiaries with immediate effect."

HMV first opened in 1921 and in recent years has struggled with competition from online retailers.