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Scots jobs at risk as HMV falls into administration

Stores including Aberdeen, Inverness, Glasgow, Livingston and Stirling under threat.

Scottish jobs are at risk after HMV fell into administration for the second time in six years.

The entertainment retailer has appointed administrators from KPMG following a weak Christmas period.

The executive chairman of HMV - and its owner Hilco Capital which purchased the company in a 2013 rescue deal - said deterioration in the UK CD and DVD market made the situation "unsustainable".

Stores including Aberdeen, Inverness, Glasgow, Livingston and Stirling have all been placed at risk following the announcement.

All of the company's 125 branches across the UK will continue to trade while negotiations with suppliers and potential buyers are ongoing.

It comes just six years after stores in areas such as Edinburgh's Princes Street, Glasgow Fort, Dumfries and Kirkcaldy all had to close after the firm went into administration.

Music: The firm went into administration in 2013.
Music: The firm went into administration in 2013. HMV

Paul McGowan, executive chairman of HMV and its owner Hilco Capital, said: "During the key Christmas trading period, the market for DVD fell by over 30% compared to the previous year and, whilst HMV performed considerably better than that, such a deterioration in a key sector of the market is unsustainable.

"HMV has clearly not been insulated from the general malaise of the UK High Street and has suffered the same challenges with business rates and other government-centric policies which have led to increased fixed costs in the business.

"Business rates alone represent an annual cost to HMV in excess of £15m.

"Even an exceptionally well-run and much-loved business such as HMV cannot withstand the tsunami of challenges facing UK retailers over the last 12 months on top of such a dramatic change in consumer behaviour in the entertainment market."

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