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HMV: We aim to keep all doors open during administration

Plus, gift cards no longer accepted; Deloitte to be appointed administrator today

Embattled entertainment retailer HMV hopes to work "as close to normal store practices as possible" during its administration period, the corporation has told CVG.

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With some 4300 HMV jobs at risk as the firm enters administration, a spokesperson for the company said the hope was to keep all 239 stores open across the UK.

"We want the business to continue as a going concern and fashion a future for ourselves - whether that's through finding a new buyer or other means - and the best way for us to do that is still trade with all our stores open," spokesperson Gennaro Castaldo told CVG.

HMV announced its intention to enter administration on Monday evening following crisis meeting with board members. It is believed that Christmas trading was not sufficient enough for HMV to secure covenants for creditors.

Deloitte, the bankruptcy management group that handled the collapse of Woolworths, is set to be named the administrator today.

During the transition, HMV will not accept gift cards. It is not yet clear if pre-orders will be honoured - CVG is seeking further clarification.

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