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Home   Kent   News   Article

Music dies for HMV stores in Ashford and Folkestone

20 February 2013
by Danny Boyle

Ashford's HMV store will close

Ashford's HMV store is among those likely to close

by business editor Trevor Sturgess

HMV shops in Ashford and Folkestone are among a further 37 stores earmarked for closure.

Administrators at Deloitte confirmed today the stores were likely to shut their  doors within the next six weeks.

Some 464 staff will be affected nationwide, including around 20 in Ashford and Folkestone.

Administrators announced earlier this month that 66 stores would close, with the loss of 930 jobs.

Kent was spared that time, although the cull included Bexleyheath (London Borough of Bexley) and Orpington (Bromley) branches.

The CD and DVD retailer will be left with just 116 stores in the UK, including Bluewater, Maidstone, Chatham, Canterbury, Thanet, Tonbridge and Tunbridge Wells.

A pop-up store in Chatham's Pentagon Shopping Centre shut last month.

The collapse of HMV follows fierce competition from online retailers, dowloads and supermarkets.

Nick Edwards, joint administrator, said:  "As part of our ongoing review of HMV's financial position, we have undertaken a further review of the store portfolio and have identified an additional 37 stores for closure.

"This step has been taken in order to enhance the prospects of the restructured business continuing as a going concern."

He added: "We are extremely grateful to the staff for their continued strong support and commitment during an understandably difficult period. All other key stakeholders including suppliers and landlords remain supportive and we appreciate their ongoing assistance."

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