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Music dies for HMV stores in Ashford and Folkestone

Ashford's HMV store will close
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 theirdoors 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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