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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.
