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190 HMV staff made redundant but it's business as usual for Exeter store

By GRichardson  |  Posted: January 31, 2013

HMV in Exeter

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Administrators for HMV have said they still hope to secure the future of the business, after making 190 redundancies across the company's head office and distribution network.
All stores – including the Exeter branch in Princesshay – remain open and no shop staff have lost their jobs.
Nick Edwards, joint administrator of the stricken music and DVD retailer, said: "Since our appointment as administrators over two weeks ago, we have been assessing the financial position of HMV.
"Following this review, a number of redundancies at the head office and distribution centres have been made. Although such decisions are always difficult, it is a necessary step in restructuring the business to enhance the prospects of securing its future as a going concern.
"We have been very pleased with the level of interest in the business as a going concern, whilst the response from customers has demonstrated the demand to see HMV remain on the high street.
"Equally, the support received from suppliers has been very positive and has enabled us to continue trading during the administration.  As a result of all of these factors, I remain hopeful we will be able to secure a future for a restructured business."

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