'Loss-making' HMV Wood Green to close (From Haringey Independent)

'Loss-making' HMV Wood Green to close after review by administators Deloitte

11:09am Thursday 7th February 2013 in News By Bruce Thain

Retail jobs are set to go in Haringey after administrators announced HMV Wood Green is one of 66 stores set to close.

Administrators Deloitte announced today the HMV store in High Road, Wood Green will close, affecting more than 10 staff at the shop.

Joint administrator Nick Edwards said: “As part of our ongoing review of HMV’s financial position, we have now completed a review of the store portfolio and have identified 66 loss-making stores for closure.

"This step has been taken in order to enhance the prospects of securing the business’s future as a going concern.

“We continue to receive strong support from staff and are extremely grateful to them for their commitment during an understandably difficult period.”

The 66 closures will put a total of 930 jobs at risk.

Last month it was announced HMV would go into administration after the business was hit by competition from online retailers in recent years.