Home / Featured / KPMG releases HMV’s plan to exercise 27 nationwide closures

KPMG releases HMV’s plan to exercise 27 nationwide closures

HMV, the British chain of retail stores selling music, film, books and other entertainment products reveals which stores are closing nationwide. Sunrise records of Canada appears to be the buyer of the media chain despite interest from Sports Direct owner Mike Ashley.

No price has been released yet but we know that the firm will save 100 stores currently in administration, securing nearly 1,500 jobs. Figures show over 450 redundancies will be exercised as a result of closures hitting 27 stores.

The first ever store on Oxford Street in London is also set to close; first opened in 1921.

The complete list of stores closing:

Ayr

*Fopp – Bristol

Hereford

Reading

Watford

Bath

*Fopp – Glasgow Byres

Trafford Centre, Manchester

Meadowhall, Sheffield

Westfield Shepherd Bush

Bluewater, Kent

*Fopp – Manchester

Merry Hill, Dudley

Southport

Wimbledon

Cribbs Causeway, Bristol

*Fopp – Oxford

Oxford Street, London

Thurrock

Chichester

Barehead, Glasgow

Queensgate, Peterborough

Tunbridge Wells

Pricnesshay, Exeter

Guernsey

Drake Circus, Plymouth

Uxbridge

*Fopp is a subsidiary company owned by HMV

Mr Droug Putman has emerged as an entrepreneur who originally purchased Sunrise Records in 2014 and then bought HMV stores in Canada in 2017. The business man started his ventures at just 16 years old when he was selling fruit and vegetables to the locals. Droug is no stranger to managing a portfolio as the tycoon owns a restaurant called ‘The Granite’ in Ontario and a boat dealing business trading AS ‘Makin Waves Marine.

Putman believes there is much more a customer can achieve by coming into a store instead of buying online. His entrepreneurial spirit seems to stem down from his family, the owner of Everest Toys, known as one of the largest distributers of toys in North America.

The stores will still be called HMV and ultimately the deal will save 1,500 jobs, he says.

About Joan Jones

Joan is a journalist and a financial advisor. A career driven woman, Joan sees the advantages and disadvantages of every development, and weights people's option whether to opt out or engaged. Her primary focus in covering news headlines is the cause and effect, validating its purpose to the public, and provide the necessary recommendation to initiate in-depth understanding. She is a full-time contributor to The Bitgrum.

Check Also

Altcoins suffer as Bitcoin pumps and corrects once again

Bitcoin dominance is almost at 54% as analysts are now holding back in trades waiting …

Leave a Reply

Your email address will not be published. Required fields are marked *